(Last Updated February 19, 2021 23:21 GMT)
At the moment, GBPJPY’s rate is down -9.6 pips (-0.06%) from the hour prior. The hourly chart shows that GBPJPY has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 choppiness in the recent daily price action of GBPJPY continues; to start today, it came in at a price of 147.62763474, up 85 pips (0.58%) since yesterday. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 3rd in terms of percentage change since yesterday. Here is a price chart of GBPJPY.
GBPJPY Technical Analysis
Notably, the current price of GBPJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 14 days.