GBPJPY Up 11 Pips in Last Hour, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated November 15, 2021 18:19 GMT)

At the time of this writing, GBPJPY’s rate is up 11.3 pips (0.07%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPJPY has now gone up 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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 up 15 pips (0.1%) since the previous day (opening today near 152.94367764), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 15th for the day in terms of price change. Let’s take a look at price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today GBPJPY is now close to its 20, 50, 100 and 200 day averages, located at 154.805, 153.593, 152.6486 and 152.7394 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 20.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days GBPJPY’s price has gone up 18 them.