GBP/JPY Up 9 Pips in Last Hour, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 8, 2022 1:42 GMT)

At the time of this writing, GBPJPY’s rate is up 8.6 pips (0.05%) from the hour prior. This is the 2nd straight hour GBPJPY has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 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)

GBPJPY is up 163 pips (0.99%) since yesterday (opening today near 167.16351866), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPJPY ended up ranking 3rd for the day in terms of price change. Let’s take a look at 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 50 day average, which is 506.5 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days GBPJPY’s price has gone up 20 them.