GBPJPY Up 11 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated February 24, 2021 0:23 GMT)

Currently, GBPJPY’s rate is up 10.7 pips (0.07%) 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 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

GBPJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPJPY entered today at 147.6959391, up 9 pips (0.06%) from the previous day. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 22nd for the day in terms of price change. Let’s take a look at price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today GBPJPY is now close to its 20 day averages, located at 145.1975 respectively, and thus may be at a key juncture along those timeframes. 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 30 days GBPJPY’s price has gone up 20 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!