CHF/JPY Up 5 Pips On Hourly Chart, Came Into Today Down For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 22, 2022 1:43 GMT)

At the time of this writing, CHFJPY’s rate is up 510 pips (0.04%) from the hour prior. This is the 3rd consecutive hour CHFJPY has seen its price head 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 down 27 pips (0.2%) since the day prior (opening today near 134.619), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, CHFJPY ranked 27th the day prior in terms of percentage price change. Below 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 day averages, located at 133.3664 respectively, and thus may be at a key juncture along those timeframes. 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 10 days CHFJPY’s price has gone up 5 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!