(Last Updated October 16, 2020 3:19 GMT)
At the moment, GBPJPY’s rate is down -9.5 pips (-0.07%) from the hour prior. GBPJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
GBPJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPJPY entered today at 136.056, down 78 pips (0.57%) from the day prior. Relative to other instruments in the Forex asset class, GBPJPY ranked 32nd the day prior in terms of percentage price change. Let’s take a look at price chart of GBPJPY.
GBPJPY Technical Analysis
Notably, GBPJPY crossed below its 100 and 200 day moving averages yesterday. 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 20 day average, which is 23.8 pips away. Volatility for GBPJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. For additional context, note that price has gone up 6 out of the past 10 days.