CHF/JPY Up 7 Pips Over Past Hour, Moves Up For the 10th Consecutive Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 8, 2022 1:39 GMT)

At the moment, CHFJPY’s rate is up 690 pips (0.05%) from the hour prior. CHFJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 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 is up 31 pips (0.22%) since the day prior (opening today near 136.411), marking the 10th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, CHFJPY ranked 20th the day prior in terms of percentage price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

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 352.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 16 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CHFJPY; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Helloooo Pippin trader! Lookout for this trade good risk to reward. Risk management is very important.