GBP/JPY Up 49 Pips in Last 4 Hours, Price Base in Formation Over Past 90 Days; Nears 50 Day Moving Average
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
GBPJPY
(Last Updated July 7, 2020)
Hello! This is the news page for GBPJPY. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on GBPJPY, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 30 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
GBPJPY Moving Averages
Nuances in the trend on GBPJPY can be understood by observing the behavior of its moving averages. The 50 and 100 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 200 day averages that imply a bearish trend.
Below is a chart showing GBPJPY’s price with its moving averages.
As for assets in the Forex asset class GBPJPY has been correlated to over the past week, it has been most correlated with GBPUSD. If we zoom out to a two week basis, though, EURNOK is the asset most correlated to GBPJPY. On the flip side, the asset least correlated with GBPJPY over the past week has been EURCAD, but if we observe the prior two weeks, GBPAUD has been the asset least correlated with GBPJPY. The chart below illustrates GBPJPY against its least correlated assets.
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GBP/JPY Up 12 Pips in Last 4 Hours, Price Base in Formation Over Past 90 Days; Eyes 50 Day Average
Volatility for gbp/jpy has been contracting over the past two weeks relative to volatility over the past month.
GBP/JPY Up 32 Pips Over Past 4 Hours, 2 Day Up Streak Broken; Price Base in Formation Over Past 90 Days
Volatility for gbp/jpy has been contracting over the past two weeks relative to volatility over the past month.
GBP/JPY Up 1 Pips Over Past 4 Hours, Nears 20 Day Moving Average; Pin Bar Pattern Appearing on Chart
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.
GBP/JPY Down 0 Pips Over Past 4 Hours, Entered Today Up For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart
It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign.
GBP/JPY Down 24 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; 4 Day Up Streak Broken
For additional context, note that price has gone up 8 out of the past 14 days.
GBP/JPY Up 46 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; Eyes 100 Day Average
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.
GBP/JPY Up 4 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; Doji Pattern Appearing on Chart
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.
GBP/JPY Down 28 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
The closest is the 100 day average, which is 11.2 pips away.
GBP/JPY Up 27 Pips On 4 Hour Chart, Moves Down For the 2nd Day In A Row; is Inching Close to 50 and 100 Day Averages
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.