GBP/JPY Up 13 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; Nears 100 and 200 Day Moving Averages

Hourly Update

(Last Updated December 27, 2021 1:40 GMT)

At the time of this writing, GBPJPY’s rate is up 12.7 pips (0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 3 pips (0.02%) since yesterday (opening today near 153.2389435), marking the 2nd straight day it has gone down. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 17th for the day in terms of price change. Below is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today the current price of GBPJPY is sitting close to its 20, 50, 100 and 200 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 14 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 down 5 them.