GBP/JPY Up 11 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
GBPJPY
(Last Updated February 24, 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 BoE Monetary Policy Report Hearings | NA | British Pound | GBP | 2021-02-24 | 14:30 GMT | ||
| United Kingdom BoE Gov Bailey Testimony | NA | British Pound | GBP | 2021-02-24 | 14:30 GMT | ||
| Japan Retail Sales YoY | Jan 2021 | Japanese Yen | JPY | 2021-02-25 | 23:50 GMT | -2.6% | |
| Japan Industrial Production MoM Prel | Jan 2021 | Japanese Yen | JPY | 2021-02-25 | 23:50 GMT | 4% | |
| Japan Housing Starts YoY | Jan 2021 | Japanese Yen | JPY | 2021-02-26 | 05:00 GMT | -2.5% |
The Trend
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for GBPJPY.
GBPJPY Moving Averages
The moving averages on GBPJPY indicate a trend that is clearly bullish.
Below is a chart showing GBPJPY’s price with its moving averages.
Regarding GBPJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with GBPCAD. Over the past 14 days, however, the asset showing the strongest correlation to GBPJPY is EURGBP. Alternatively, GBPNZD has been the asset least correlated with GBPJPY — but if we observe the prior two weeks, CHFJPY has been the asset least correlated with GBPJPY. The chart below illustrates GBPJPY against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, GBPJPY’s rate is up 102.02 pips (0.69%) from the week prior. GBPJPY has seen its price go up 9 out of the past 10 weeks, thus creating some compelling opportunities for bulls. As for the trend on the weekly timeframe, we see the clearest trend on the 5 week timeframe. 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 view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.
GBPJPY Down 34 Pips Over Past Hour, Came Into Today Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
GBPJPY Up 11 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
GBPJPY Down 8 Pips in Last Hour, in an Uptrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
GBPJPY Down 10 Pips Over Past Hour; in an Uptrend Over Past 90 Days
Compared to its peers in the forex, gbpjpy gave its buyers a return that ranked 3rd in terms of percentage change since yesterday.
GBPJPY Up 2 Pips Over Past Hour, 4 Day Up Streak Broken; in an Uptrend Over Past 90 Days
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPJPY Down 14 Pips Over Past Hour, Came Into Today Up For the 4th Day In A Row; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
GBPJPY Down 3 Pips On Hourly Chart, Came Into Today Up For the 3rd Day In A Row; in an Uptrend Over Past 30 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpjpy.
GBPJPY Down 1 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; 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 Up 14 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart
Relative to other instruments in the forex asset class, gbpjpy ranked 27th the day prior in terms of percentage price change.