CHF/JPY Up 9 Pips On Hourly Chart, Came Into Today Down For the 2nd Straight Day; Eyes 20 Day Average

Hourly Update

(Last Updated November 15, 2021 1:37 GMT)

At the time of this writing, CHFJPY’s rate is up 920 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 19 pips (0.15%) since yesterday (opening today near 123.654), marking the 2nd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 32nd for the day in terms of price change. The price chart of CHFJPY below illustrates.

CHFJPY

CHFJPY Technical Analysis

Coming into today 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. 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. For additional context, note that price has gone down 8 out of the past 14 days.