CHF/JPY Up 9 Pips Over Past Hour; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 17, 2022 1:38 GMT)

At the time of this writing, CHFJPY’s rate is up 930 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The back and forth price flow continues for CHFJPY, which started today off at 135.84, up 100 pips 0.74% from the previous day. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 13th for the day in terms of price change. Let’s take a look at price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Coming into today CHFJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone up 7 them.