GBPJPY Down 7 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated April 5, 2021 2:20 GMT)

Currently, GBPJPY’s rate is down -6.6 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 153.0040224, up 2 pips (0.02%) since yesterday. Compared to its peers in the Forex, GBPJPY gave its buyers a return that ranked 15th in terms of percentage change since yesterday. Here is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

The first thing we should note is that GBPJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 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 10 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.