(Last Updated April 22, 2021 2:21 GMT)
At the time of this writing, GBPJPY’s rate is up 6.3 pips (0.04%) from the hour prior. The hourly chart shows that GBPJPY has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 down 18 pips (0.12%) since yesterday (opening today near 150.49181696), marking the 2nd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, GBPJPY ranked 21st yesterday in terms of percentage price change. Below is a price chart of GBPJPY.
GBPJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: GBPJPY crossed below its 50 day moving average yesterday. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.