CHF/JPY Up 3 Pips On Hourly Chart, Moves Down For the 3rd Straight Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated May 4, 2022 1:38 GMT)

At the moment, CHFJPY’s rate is up 250 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHFJPY is down 22 pips (0.16%) since yesterday (opening today near 132.912), marking the 3rd straight day it has gone down. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

The first thing we should note is that CHFJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 15 them.