(Last Updated April 1, 2021 0:21 GMT)
At the moment, GBPJPY’s rate is up 8.9 pips (0.06%) from the hour prior. This is the 2nd straight hour GBPJPY has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 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)
The back and forth price flow continues for GBPJPY, which started today off at 151.6794774, up 42 pips 0.28% from the previous day. Relative to other instruments in the Forex asset class, GBPJPY ranked 7th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPJPY.
GBPJPY Technical Analysis
Notably, GBPJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.