(Last Updated April 29, 2021 2:21 GMT)
At the moment, GBPJPY’s rate is up 2.9 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 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 up 20 pips (0.13%) since yesterday (opening today near 151.40942748), marking the 3rd consecutive day an increase has occurred. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 14th in terms of percentage change since yesterday. Let’s take a look at price chart of GBPJPY.
GBPJPY Technical Analysis
Coming into today GBPJPY is now close to its 20 and 50 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 50 day average, which is 54.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 7 out of the past 14 days.