GBP/JPY Down 16 Pips in Last Hour, Moves Down For the 2nd Straight Day; in a Downtrend Over Past 14 Days
The closest is the 200 day average, which is 233 pips away.
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 6 Pips in Last Hour, Moves Down For the 2nd Straight Day; in a Downtrend Over Past 14 Days
This move is a reversal from the hour prior, which saw price move up.
GBPJPY Down 16 Pips in Last Hour; Makes Big Move Relative to Two Week Trend
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
GBPJPY Down 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Doji and Pin Bar Patterns Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
GBPJPY Down 6 Pips On Hourly Chart, Price Base in Formation Over Past 14 Days; is Inching Close to 20, 50 and 200 Day Averages
Price action traders may also wish to note that we see a doji candlestick pattern on gbpjpy.
GBPJPY Up 3 Pips On Hourly Chart, Entered Today Down For the 2nd Consecutive Day; Price Base in Formation Over Past 14 Days
The closest is the 200 day average, which is 17.4 pips away.
GBPJPY Up 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Nears 20, 50 and 100 Day Moving Averages
Or to simplify this another way, note that out of the past 14 days gbpjpy’s price has gone up 11 them.
GBPJPY Up 7 Pips On Hourly Chart, Entered Today Up For the 3rd Day In A Row; Nears 20 and 50 Day Moving Averages
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
GBPJPY Down 6 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 14 Days
This is the 2nd consecutive hour gbpjpy has seen its price head down.
GBP/JPY Down 5 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 14 Days
It should be noted, though, the 20 and 50 day simple moving averages turned downwards, which may be a bearish sign.