(Last Updated November 11, 2021 3:16 GMT)
Currently, CHFJPY’s rate is up 3170 pips (0.26%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 36 pips (0.29%) since the day prior (opening today near 123.931), marking the 3rd straight day a decrease has occurred. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 27th in terms of percentage change since the day prior. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: CHFJPY crossed below its 20 day moving average yesterday. 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 30 days CHFJPY’s price has gone up 16 them.