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.
(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:
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% |
On GBPJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
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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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.
Monthly outlook: choppy. Clear trends not visible on the 24, 60 and 120 month timeframes.
This is a reversal of the price action on the previous hour, in which price moved up.
Of note is that the 20 hour changed directions on gbpjpy; it is now pointing up.
Or to simplify this another way, note that out of the past 10 days gbpjpy’s price has gone up 5 them.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
For additional context, note that price has gone up 5 out of the past 10 days.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
It’s been a feast for bears operating on an hourly timeframe, as gbpjpy has now gone down 4 of the past 5 hours.
This is a reversal of the price action on the previous hour, in which price moved down.
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.