CHFJPY Down 3 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated January 8, 2021 3:18 GMT)

At the moment, CHFJPY’s rate is down -330 pips (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CHFJPY has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHFJPY entered today at 117.205, down 2 pips (0.01%) from yesterday. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 26th in terms of percentage change since yesterday. Let’s take a look at price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

The first thing we should note is that CHFJPY is now close to its 20, 50 and 100 day averages, located at 116.8596, 115.6982 and 115.6439 respectively, and thus may be at a key juncture along those timeframes. Volatility for CHFJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!