GBP/JPY Up 7 Pips On Hourly Chart; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated January 5, 2022 1:43 GMT)

At the moment, GBPJPY’s rate is up 7.4 pips (0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)

The back and forth price flow continues for GBPJPY, which started today off at 157.18051038, up 167 pips 1.07% from the day prior. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 6th for the day in terms of price change. Below is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

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 414 pips away. 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. Or to simplify this another way, note that out of the past 10 days GBPJPY’s price has gone up 6 them.