GBP/JPY Down 41 Pips Over Past Hour, Underperforms All Forex; Crosses 50 Day Moving Average

Hourly Update

(Last Updated May 12, 2022 1:41 GMT)

At the time of this writing, GBPJPY’s rate is down -41.3 pips (-0.26%) from the hour prior. The hourly chart shows that GBPJPY has seen 2 straight down hours. 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 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 158 pips (0.99%) since yesterday (opening today near 158.8670304), marking the 3rd straight day it has gone down. It may be worth observing that GBPJPY was the worst performer of the 39 members in the Forex asset class over the past day. Let’s take a look at price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Notably, GBPJPY crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 6 out of the past 10 days.