GBPJPY Down 1 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average

Hourly Update

(Last Updated September 8, 2021 0:20 GMT)

At the time of this writing, GBPJPY’s rate is down 0.6 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 entered today at 151.97526386, down 13 pips (0.09%) from yesterday. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Here is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today GBPJPY is now close to its 20, 50, 100 and 200 day averages, located at 151.0784, 151.7588, 153.0028 and 150.7794 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 21.7 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days GBPJPY’s price has gone up 7 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!