GBP/JPY Down 9 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days
This is a reversal of the price action on the previous hour, in which price moved up.
GBPJPY
(Last Updated January 26, 2021)
Hello! This is the news page for 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 |
|---|---|---|---|---|---|---|---|
| United Kingdom Employment Change | Oct 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | -100K | -88K |
| United Kingdom Average Earnings excl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 3.2% | 3.6% |
| United Kingdom Average Earnings incl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 2.9% | 3.6% |
| United Kingdom Claimant Count Change | Dec 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 35K | 7K |
| United Kingdom Unemployment Rate | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 5.1% | 5% |
The Trend
On GBPJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
GBPJPY Moving Averages
Across several time periods between 20 and 200 days, the trend on GBPJPY has remained consistently bullish.
The chart below illustrates.
Regarding GBPJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with USDSEK. Over the past 14 days, however, GBPUSD is the asset most correlated to GBPJPY. On the flip side, the asset least correlated with GBPJPY over the past week has been AUDCHF, but over the past two weeks, the asset least correlated with GBPJPY has been AUDCAD. 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 down -4.61 pips (-0.03%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists 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 and 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 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 outlook: choppy. Clear trends not visible on the 24, 60 and 120 month timeframes.
GBPJPY Up 9 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Consecutive Day
Of note is that the 20 hour changed directions on gbpjpy; it is now pointing up.
GBPJPY Up 7 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days
Or to simplify this another way, note that out of the past 10 days gbpjpy’s price has gone up 5 them.
GBPJPY Down 5 Pips in Last Hour, in an Uptrend Over Past 30 Days; Eyes 20 Day Average
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
GBPJPY Down 6 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart
For additional context, note that price has gone up 5 out of the past 10 days.
GBP/JPY Up 17 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
GBPJPY Up 2 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
GBPJPY Up 15 Pips Over Past Hour, Moves Down For the 2nd Straight Day; in an Uptrend Over Past 90 Days
It’s been a feast for bears operating on an hourly timeframe, as gbpjpy has now gone down 4 of the past 5 hours.
GBPJPY Up 8 Pips On Hourly Chart
This is a reversal of the price action on the previous hour, in which price moved down.
GBPJPY Down 8 Pips Over Past Hour
Compared to its peers in the forex, gbpjpy gave its buyers a return that ranked 13th in terms of percentage change since the day prior.