(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:
| 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 |
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.
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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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.
Monthly trend: strongest on the 24 month timeframe.
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.
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
It’s been a feast for bears operating on an hourly timeframe, as gbpjpy has now gone down 4 of the past 5 hours.
The closest is the 200 day average, which is 233 pips away.
Compared to its peers in the forex, gbpjpy gave its buyers a return that ranked 23rd in terms of percentage change since the day prior.
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.
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.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpjpy.
The closest is the 200 day average, which is 17.4 pips away.
Or to simplify this another way, note that out of the past 14 days gbpjpy’s price has gone up 11 them.