(Last Updated May 28, 2021 1:18 GMT)
At the time of this writing, CHFJPY’s rate is down -20 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CHFJPY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
CHFJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CHFJPY is up 10 pips (0.08%) since the day prior (opening today near 121.572), marking the 2nd day in a row it has gone up. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 20th for the day in terms of price change. Below is a price chart of CHFJPY.
CHFJPY Technical Analysis
Coming into today the current price of CHFJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 17 out of the past 30 days.