(Last Updated March 26, 2021 23:21 GMT)
At the moment, GBPJPY’s rate is up 3.6 pips (0.02%) from the hour prior. This is the 2nd consecutive hour GBPJPY has seen its price head up. 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 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)
GBPJPY entered today at 150.12795497, up 131 pips (0.88%) from the previous day. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 2nd for the day in terms of price change. The price chart of GBPJPY below illustrates.
GBPJPY Technical Analysis
The first thing we should note is that 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. For additional context, note that price has gone down 8 out of the past 14 days.