(Last Updated October 16, 2020 3:16 GMT)
At the moment, CHFJPY’s rate is down -930 pips (-0.08%) from the hour prior. CHFJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
CHFJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
After 3 down days, CHFJPY snaps its streak, rising 12 pips (0.1%) over the past day to close at an exchange rate of 115.188. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 14th in terms of percentage change since yesterday. The price chart of CHFJPY below illustrates.
CHFJPY Technical Analysis
The first thing we should note is that the current price of CHFJPY 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 100 day average, which is 38.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 19 out of the past 30 days.