CHFJPY Up 7 Pips in Last Hour, Moves Down For the 4th Consecutive Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated May 6, 2021 3:17 GMT)

Currently, CHFJPY’s rate is up 740 pips (0.06%) from the hour prior. This is the 2nd consecutive hour CHFJPY has seen its price head up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 3 pips (0.02%) since the day prior (opening today near 119.616), marking the 4th consecutive day a decline has happened. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. The price chart of CHFJPY below illustrates.

CHFJPY

CHFJPY Technical Analysis

Coming into today CHFJPY is now close to its 20, 50 and 100 day averages, located at 118.6428, 117.714 and 117.3942 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.