CHF/JPY Up 16 Pips On 4 Hour Chart, 4 Day Up Streak Ended; Price Base in Formation Over Past 14 Days

CHF/JPY 4 Hour Price Update

Updated July 21, 2020 09:08 AM GMT (05:08 AM EST)

CHF/JPY is up 16 pips (0.14%) since the previous 4 hours (opening the current 4 hour candle near 114.384), marking the 2nd candle in a row it has gone up. Out of the 37 instruments in the Forex asset class, CHF/JPY ended up ranking 7th for the four-hour candle in terms of price change.

CHF/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHF/JPY, which opened today priced near 114.224, is down 0 pips 0% since the day prior, marking NA — and the end of a 4 day positive run. Out of the 40 instruments in the Forex asset class, CHF/JPY ended up ranking 25th for the day in terms of price change. The price chart of CHF/JPY below illustrates.

CHF/JPY Technical Analysis

The first thing we should note is that the current price of CHF/JPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 41.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days CHF/JPY’s price has gone up 18 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CHFJPY, with 9 buy signals on our radar and 21 sell signals. This imputes a buy/sell ratio of 0.43, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel, divergence, gartley, trendline and triangle technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.