GBPJPY Up 10 Pips Over Past Hour, Moves Down For the 5th Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 19, 2021 3:28 GMT)

Currently, GBPJPY’s rate is up 10.2 pips (0.07%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPJPY has now gone down 9 of the past 10 hours. Regarding the trend, note that the strongest trend exists 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 32 pips (0.21%) since yesterday (opening today near 151.2141345), marking the 5th straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 31st for the day in terms of price change. Let’s take a look at price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Notably, the current price of GBPJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 160.7 pips away. The clearest trend exists on the 14 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. For additional context, note that price has gone down 6 out of the past 10 days.