CHFJPY Down 10 Pips in Last Hour, Came Into Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days
Price action traders may also wish to note that we see a doji candlestick pattern on chfjpy.
CHFJPY
(Last Updated October 21, 2020)
Hello! This is the news page for CHFJPY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On CHFJPY, there is currently an uptrend on the 90 and 14 day timeframes.
CHFJPY Moving Averages
The moving averages on CHFJPY indicate a trend that is clearly bullish.
Below is a chart showing CHFJPY’s price with its moving averages.
In terms of correlations over the past week for CHFJPY, it has demonstrated the strongest correlation with USDCHF. CHFJPY has been most correlated with USDCHF over the past 14 days also, so this may be a structural correlation in the market. On the flip side, the asset least correlated with CHFJPY over the past week has been EURCHF, but if we observe the prior two weeks, AUDJPY has been the asset least correlated with CHFJPY. The chart below illustrates CHFJPY against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, CHFJPY’s rate is up 1.13 (0.98%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. CHFJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
CHFJPY: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
CHFJPY Down 19 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
CHFJPY Up 7 Pips Over Past Hour, Breaks Above 50 Day Average; Social Sentiment Biased Towards Selling
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.
CHFJPY Up 12 Pips Over Past Hour, Nears 20 and 100 Day Moving Averages; Doji and Pin Bar Patterns Appearing on Chart
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
CHFJPY Down 9 Pips in Last Hour, 3 Day Down Streak Snapped; Nears 20 and 100 Day Moving Averages
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.
CHFJPY Up 8 Pips in Last Hour, Moves Down For the 3rd Straight Day; is Inching Close to 20 and 100 Day Averages
The closest is the 20 day average, which is 27.8 pips away.
CHFJPY Down 3 Pips Over Past Hour, Came Into Today Down For the 2nd Day In A Row; is Inching Close to 20 and 100 Day Averages
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.
CHFJPY Down 9 Pips in Last Hour, 3 Day Up Streak Ended; Crosses 50 Day Moving Average
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.
CHFJPY Down 4 Pips On Hourly Chart, Entered Today Up For the 3rd Day In A Row; Crosses 50 Day Moving Average
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.
CHFJPY Down 6 Pips Over Past Hour, Sentiment Strongly Favors Sellers; Eyes 50 Day Average
Relative to other instruments in the forex asset class, chfjpy ranked 14th the previous day in terms of percentage price change.