GBPJPY Down 5 Pips On Hourly Chart, 3 Day Up Streak Ended; is Inching Close to 20 Day Average

Hourly Update

(Last Updated January 5, 2021 2:21 GMT)

Currently, GBPJPY’s rate is down -4.9 pips (-0.04%) from the hour prior. The hourly chart shows that GBPJPY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 50 hour changed directions on GBPJPY; it is now pointing down. 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, which opened today priced near 139.895, is down 111 pips 0.79% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 40 instruments in the Forex asset class, GBPJPY ended up ranking 38th for the day in terms of price change. Below is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Notably, the current price of GBPJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. For additional context, note that price has gone up 9 out of the past 14 days.