(Last Updated July 16, 2021 18:19 GMT)
At the time of this writing, GBPJPY’s rate is down -13.5 pips (-0.09%) from the hour prior. GBPJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly 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.
GBPJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPJPY is down 63 pips (0.41%) since yesterday (opening today near 151.8000456), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, GBPJPY ranked 30th yesterday in terms of percentage price change. Below is a price chart of GBPJPY.
GBPJPY Technical Analysis
Notably, GBPJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. The closest is the 100 day average, which is 99.2 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days GBPJPY’s price has gone up 7 them.