GBPJPY Down 24 Pips On Hourly Chart, Breaks Below 20 Day Average; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, gbpjpy ranked 34th the previous day in terms of percentage price change.
GBPJPY
(Last Updated April 15, 2021)
Welcome to the news page for GBPJPY (GBPJPY). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for GBPJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| United Kingdom BoE Credit Conditions Survey | NA | British Pound | GBP | 2021-04-15 | 08:30 GMT | ||
| Japan Reuters Tankan Index | Apr 2021 | Japanese Yen | JPY | 2021-04-15 | 23:00 GMT | ||
| United Kingdom BoE Cunliffe Speech | NA | British Pound | GBP | 2021-04-16 | 09:00 GMT | ||
| Japan Exports YoY | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT |
The Trend
A trend/countertrend situation exists on GBPJPY, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
GBPJPY Moving Averages
The moving averages on GBPJPY summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, implying a upward trend, aside from a drop about 3 weeks prior.
The chart below illustrates.
In terms of correlations over the past week for GBPJPY, it has demonstrated the strongest correlation with EURGBP. If we zoom out to a two week basis, though, GBPCHF is the asset most correlated to GBPJPY. On the flip side, the asset least correlated with GBPJPY over the past week has been CHFJPY, but if we observe the prior two weeks, the asset least correlated with GBPJPY has been USDCAD. 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 moment, GBPJPY’s rate is down -20.6 pips (-0.14%) from the week prior. Moreover, note that the weekly chart shows that GBPJPY has seen 2 straight down weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPJPY. Given that we see an uptrend on the 20 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 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’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPJPY: The Monthly View
Monthly trend: strongest on the 24 month timeframe.
GBPJPY Down 23 Pips Over Past Hour, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
GBPJPY Down 1 Pips Over Past Hour, Makes Big Move Relative to Past Month; Crosses 20 and 50 Day Moving Averages
This move is a reversal from the hour prior, which saw price move up.
GBPJPY Down 3 Pips in Last Hour, Breaks Below 50 Day Average; in an Uptrend Over Past 90 Days
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
GBPJPY Down 4 Pips in Last Hour, in a Downtrend Over Past 14 Days; is Inching Close to 50 Day Average
Relative to other instruments in the forex asset class, gbpjpy ranked 23rd yesterday in terms of percentage price change.
GBPJPY Down 15 Pips in Last Hour, is Inching Close to 50 Day Average; Doji and Pin Bar Patterns Appearing on Chart
Relative to other instruments in the forex asset class, gbpjpy ranked 20th yesterday in terms of percentage price change.
GBPJPY Up 10 Pips On Hourly Chart, 3 Day Up Streak Snapped; Breaks Below 50 Day Average
Compared to its peers in the forex, gbpjpy gave its buyers a return that ranked 35th in terms of percentage change since the previous day.
GBPJPY Up 1 Pips in Last Hour, Moves Up For the 3rd Day In A Row; in an Uptrend Over Past 90 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpjpy.
GBPJPY Down 8 Pips On Hourly Chart, Price Base in Formation Over Past 30 Days; is Inching Close to 50 Day Average
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
GBPJPY Up 8 Pips On Hourly Chart, Entered Today Down For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
Price action traders may also wish to note that we see a doji candlestick pattern on gbpjpy.