(Last Updated February 25, 2021 0:23 GMT)
At the moment, GBPJPY’s rate is up 12.7 pips (0.08%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPJPY has now gone up 4 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 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 93 pips (0.63%) since yesterday (opening today near 148.62614303), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 10th in terms of percentage change since yesterday. The price chart of GBPJPY below illustrates.
GBPJPY Technical Analysis
The first thing we should note is that the current price of GBPJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days GBPJPY’s price has gone up 9 them.