GBPJPY Down 7 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; Nears 20 Day Moving Average

Hourly Update

(Last Updated June 9, 2021 20:22 GMT)

Currently, GBPJPY’s rate is down -6.8 pips (-0.04%) from the hour prior. GBPJPY has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

GBPJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPJPY is down 5 pips (0.03%) since the previous day (opening today near 154.8809856), marking the 2nd consecutive day it has gone down. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 21st in terms of percentage change since the previous day. Here is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

The first thing we should note is that GBPJPY is now close to its 20, 50 and 100 day averages, located at 154.8552, 152.8193 and 151.418 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.