GBPJPY Up 8 Pips On Hourly Chart, Moves Up For the 6th Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated October 15, 2021 1:20 GMT)

At the moment, GBPJPY’s rate is up 8.2 pips (0.05%) from the hour prior. This is the 3rd hour in a row GBPJPY has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 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 64 pips (0.41%) since the day prior (opening today near 154.8732411), marking the 6th day in a row an upward move has occurred. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 9th in terms of percentage change since the day prior. Here is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today the current price of GBPJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 284.1 pips away. It should be noted, though, the 100 day simple moving average 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. Or to simplify this another way, note that out of the past 10 days GBPJPY’s price has gone up 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.