(Last Updated February 15, 2021 23:21 GMT)
At the time of this writing, GBPJPY’s rate is down -0.9 pips (-0.01%) from the hour prior. The hourly chart shows that GBPJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPJPY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPJPY is up 32 pips (0.22%) since the day prior (opening today near 145.69838343), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 9th for the day in terms of price change. Here is a price chart of GBPJPY.
GBPJPY Technical Analysis
Coming into today GBPJPY is now close to its 20 day averages, located at 143.6505 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. Or to simplify this another way, note that out of the past 14 days GBPJPY’s price has gone up 10 them.