(Last Updated June 3, 2021 4:22 GMT)
At the time of this writing, GBPJPY’s rate is down 0 pips (0%) from the hour prior. This is 2nd consecutive hour GBPJPY has seen its price head down. 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 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)
The back and forth price flow continues for GBPJPY, which started today off at 155.2993245, up 31 pips 0.2% from the previous day. Relative to other instruments in the Forex asset class, GBPJPY ranked 10th the previous day 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. 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 7 out of the past 14 days. Also, candlestick traders! Note we see doji pattern appearing here as well.