CHFJPY Up 3 Pips Over Past Hour, Moves Down For the 2nd Straight Day; Nears 20 Day Moving Average

Hourly Update

(Last Updated November 15, 2021 18:16 GMT)

At the time of this writing, 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. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 19 pips (0.15%) since yesterday (opening today near 123.654), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 32nd for the day in terms of price change. 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, 50 and 100 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days CHFJPY’s price has gone down 8 them.