Compared to its peers in the forex, chf/jpy gave its buyers a return that ranked 6th in terms of percentage change since yesterday.
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 14 days chf/jpy’s price has gone up 8 them.
Compared to its peers in the forex, chf/jpy gave its buyers a return that ranked 24th in terms of percentage change since the previous day.
For additional context, note that price has gone up 9 out of the past 14 days.
This imputes a buy/sell ratio of 0.6, which is bearish.
The closest is the 100 day average, which is 24.9 pips away.
As for the rationale, technical traders seem to be citing the appearance of channel and triangle technical patterns.
The closest is the 20 day average, which is 38.1 pips away.
Been holding this trade about 12 days now and seeing structure form according to the fibonacci levels tells me that sellers can come in any moment to push the price back down again….