CHF/JPY Up 5 Pips Over Past Hour; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated November 19, 2021 1:40 GMT)

Currently, CHFJPY’s rate is up 470 pips (0.04%) from the hour prior. This is the 2nd consecutive hour CHFJPY has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CHFJPY. Given that we see an uptrend on the 20 and 10 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 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 entered today at 123.433, up 48 pips (0.39%) from yesterday. Relative to other instruments in the Forex asset class, CHFJPY ranked 14th yesterday in terms of percentage price change. Below is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, the current price of CHFJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 7 out of the past 10 days.