GBP/JPY Down 4 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 2nd Day In A Row

Hourly Update

(Last Updated November 10, 2022 1:51 GMT)

At the moment, GBPJPY’s rate is down -4.1 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 143 pips (0.85%) since yesterday (opening today near 166.23794754), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 32nd in terms of percentage change since yesterday. Let’s take a look at price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

The first thing we should note is that 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 14 out of the past 30 days.