(Last Updated February 12, 2021 17:27 GMT)
Currently, GBPJPY’s rate is up 14.1 pips (0.1%) from the hour prior. GBPJPY has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)
The choppiness in the recent daily price action of GBPJPY continues; to start today, it came in at a price of 144.65527346, down 7 pips (0.05%) since the day prior. Relative to other instruments in the Forex asset class, GBPJPY ranked 27th the day prior in terms of percentage price change. Below is a price chart of GBPJPY.
GBPJPY Technical Analysis
Notably, the current price of GBPJPY is sitting close to its 20 and 50 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. Or to simplify this another way, note that out of the past 10 days GBPJPY’s price has gone up 6 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!