GBP/JPY Up 24 Pips in Last Hour, in a Downtrend Over Past 14 Days; Nears 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated November 15, 2021 1:40 GMT)

Currently, GBPJPY’s rate is up 23.8 pips (0.16%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend 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 up 15 pips (0.1%) since the day prior (opening today near 152.94367764), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 15th for the day in terms of price change. Below is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

The first thing we should note is that 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. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 20.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days GBPJPY’s price has gone down 8 them.