GBPJPY Down 7 Pips in Last Hour; Entered Today Up For the 3rd Consecutive Day

Hourly Update

(Last Updated January 8, 2021 3:21 GMT)

Currently, GBPJPY’s rate is down -6.5 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 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)

GBPJPY is up 53 pips (0.38%) since the previous day (opening today near 140.726), marking the 3rd consecutive day it has gone up. Relative to other instruments in the Forex asset class, GBPJPY ranked 8th the previous day in terms of percentage price change. Below is a price chart of GBPJPY.

GBPJPY

GBPJPY Technical Analysis

Coming into today GBPJPY is now close to its 20, 50 and 100 day averages, located at 139.5942, 138.6321 and 137.9532 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 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.