(Last Updated January 15, 2021 3:21 GMT)
At the moment, GBPJPY’s rate is down -8.2 pips (-0.06%) 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 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. 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 142.069, up 46 pips (0.32%) since the day prior. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 13th in terms of percentage change since the day prior. Let’s take a look at price chart of GBPJPY.
GBPJPY Technical Analysis
The first thing we should note is that GBPJPY is now close to its 20 and 50 day averages, located at 140.2801 and 139.2237 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPJPY’s price has gone up 18 them.