CHFJPY Down 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Sentiment Strongly Favors Buyers
Relative to other instruments in the forex asset class, chfjpy ranked 15th the previous day in terms of percentage price change.
CHFJPY
(Last Updated January 23, 2021)
Welcome to the news page for CHFJPY (CHFJPY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for CHFJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Monetary Policy Meeting Minutes | NA | Japanese Yen | JPY | 2021-01-25 | 23:50 GMT |
The Trend
A trend/countertrend situation exists on CHFJPY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
CHFJPY Moving Averages
CHFJPY’s moving averages suggest the trend on a number of time horizons is bullish. Moreover, it should also be noted that the 20 and 100 SMA just turned bullish today.
Below is a chart showing CHFJPY’s price with its moving averages.
Regarding CHFJPY’s correlations over the past 7 days, it has been most correlated with EURJPY. CHFJPY has been most correlated with EURJPY over the past 14 days also, so this may be a recurring pattern. On the flip side, the asset least correlated with CHFJPY over the past week has been EURGBP, but if we observe the prior two weeks, the asset least correlated with CHFJPY has been AUDCHF. See the chart below to observe the recent price action in CHFJPY versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, CHFJPY’s rate is up 3830 pips (0.33%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows CHFJPY’s price action over the past year.
CHFJPY: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
CHFJPY Up 5 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Crosses 20 Day Moving Average
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CHFJPY Down 3 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 2 Day Down Streak Snapped
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
CHFJPY Down 23 Pips On Hourly Chart, Came Into Today Down For the 2nd Straight Day; Crosses 20 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
CHFJPY Up 1 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; Crosses 20 Day Moving Average
It’s been a feast for bears operating on an hourly timeframe, as chfjpy has now gone down 4 of the past 5 hours.
CHFJPY Up 8 Pips in Last Hour, 2 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart
Volatility for chfjpy has been contracting over the past two weeks relative to volatility over the past month.
CHFJPY Down 0 Pips On Hourly Chart, Came Into Today Up For the 2nd Consecutive Day; Breaks Above 20 Day Average
Volatility for chfjpy has been contracting over the past two weeks relative to volatility over the past month.
CHFJPY Up 12 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Price Base in Formation Over Past 90 Days
Price action traders may also wish to note that we see a doji candlestick pattern on chfjpy.
CHFJPY Down 5 Pips in Last Hour, Price Base in Formation Over Past 90 Days; Eyes 20 Day Average
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
CHFJPY Down 3 Pips Over Past Hour, in a Downtrend Over Past 14 Days; Price Base in Formation Over Past 90 Days
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.