GBP/JPY Up 27 Pips in Last Hour, Entered Today Up For the 3rd Straight Day; Nears 20 Day Moving Average

Hourly Update

(Last Updated May 2, 2022 1:41 GMT)

Currently, GBPJPY’s rate is up 26.9 pips (0.16%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPJPY has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 22 pips (0.14%) since yesterday (opening today near 163.2209777), marking the 3rd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 16th for the day in terms of price change. Here is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today GBPJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.