CHF/JPY Down 16 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Day In A Row
Or to simplify this another way, note that out of the past 14 days chf/jpy’s price has gone down 8 them.
CHFJPY
(Last Updated July 7, 2020)
Welcome to the news page for CHFJPY (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 been most correlated with GBPCHF. If we zoom out to a two week basis, though, AUDJPY is the asset most correlated to CHFJPY. On the flip side, NZDCAD has been the asset least correlated with CHFJPY — but if we observe the prior two weeks, the asset least correlated with CHFJPY has been EURUSD. The chart below illustrates CHFJPY against its least correlated assets.
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CHF/JPY Down 32 Pips Over Past 4 Hours, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 11.4 pips away.
CHF/JPY Down 3 Pips Over Past 4 Hours, 4 Day Down Streak Broken; Nears 100 Day Moving Average
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
CHF/JPY Up 8 Pips Over Past 4 Hours, 3 Day Down Streak Snapped; Doji and Pin Bar Patterns Appearing on Chart
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up.
CHF/JPY Up 10 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; Price Base in Formation Over Past 90 Days
This imputes a buy/sell ratio of 2, which is bullish.
CHF/JPY Up 24 Pips in Last 4 Hours, Price Base in Formation Over Past 90 Days; is Inching Close to 20 Day Average
Or to simplify this another way, note that out of the past 14 days chf/jpy’s price has gone up 8 them.
CHF/JPY Down 0 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 90 Days
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.
CHF/JPY Down 19 Pips in Last 4 Hours, 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
CHF/JPY Up 28 Pips Over Past 4 Hours, Moves Down For the 2nd Day In A Row; Sentiment Suggests Sellers in Charge
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
CHF/JPY Down 16 Pips in Last 4 Hours, 2 Day Up Streak Broken; in an Uptrend Over Past 30 Days
This imputes a buy/sell ratio of 1.5, which is bullish.