CHFJPY Down 9 Pips Over Past Hour, Breaks Above 50 Day Average; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated September 2, 2021 2:16 GMT)

Currently, CHFJPY’s rate is down -880 pips (-0.07%) 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. 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 up 6 pips (0.05%) since the day prior (opening today near 120.221), marking the 2nd straight day an upward move has occurred. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 25th in terms of percentage change since the day prior. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

First things first: CHFJPY crossed above its 50 day moving average 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 50 day average, which is 7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days CHFJPY’s price has gone up 8 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!