CHFJPY Down 2 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 20, 50 and 100 Day Averages

Hourly Update

(Last Updated August 31, 2021 2:15 GMT)

At the moment, CHFJPY’s rate is down -180 pips (-0.02%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The back and forth price flow continues for CHFJPY, which started today off at 119.866, down 63 pips 0.52% from yesterday. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 38th for the day in terms of price change. Let’s take a look at price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY crossed below its 20, 50 and 100 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 18.7 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. For additional context, note that price has gone up 16 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CHFJPY; just 1 sell signals and 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

My 2 cents. suspecting 120.2 to hold any rally mid term