GBPJPY

(Last Updated August 11, 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

If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for GBPJPY.

GBPJPY Moving Averages

Nuances in the trend on GBPJPY can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bullish, implying a upward trend, save for a drop that occurred about 6 months ago.

Below is a chart showing GBPJPY’s price with its moving averages.

In terms of correlations over the past week for GBPJPY, it has demonstrated the strongest correlation with CADJPY:CUR. Over the past 14 days, however, the asset showing the strongest correlation to GBPJPY is EURJPY. Alternatively, the asset least correlated with GBPJPY over the past week has been CADCHF, but if we observe the prior two weeks, EURCHF:CUR has been the asset least correlated with GBPJPY. See the chart below to observe the recent price action in GBPJPY versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

At the time of this writing, GBPJPY’s rate is up 0.301 (0.22%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPJPY. Given that we see an uptrend on the 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GBPJPY’s weekly price action over the past 52 weeks can be seen via the chart below.