(Last Updated January 13, 2021 2:21 GMT)
At the moment, GBPJPY’s rate is down -9.4 pips (-0.07%) from the hour prior. The hourly chart shows that GBPJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)
The back and forth price flow continues for GBPJPY, which started today off at 141.767, up 89 pips 0.63% from the day prior. Relative to other instruments in the Forex asset class, GBPJPY ranked 6th the day prior in terms of percentage price change. Here is a price chart of GBPJPY.
GBPJPY Technical Analysis
The first thing we should note is that the current price of GBPJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days GBPJPY’s price has gone up 8 them.