GBPJPY Up 70 Pips in Last Hour, Breaks Below 20 Day Average; in an Uptrend Over Past 90 Days
Of note is that the 20 hour changed directions on gbpjpy; it is now pointing up.
GBPJPY
(Last Updated September 22, 2020)
Welcome to the news page for GBPJPY (GBPJPY). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
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 100 are bearish, implying a downward trend, aside from a rally about 3 months prior. Moreover, it should also be noted that the 50 SMA just turned bearish today.
Below is a chart showing GBPJPY’s price with its moving averages.
In terms of correlations over the past week for GBPJPY, it has demonstrated the strongest correlation with USDNOK. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPJPY is GBPNZD. On the flip side, the asset least correlated with GBPJPY over the past week has been EURSEK, but over the past two weeks, the asset least correlated with GBPJPY has been ZARJPY. The chart below illustrates GBPJPY against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, GBPJPY’s rate is down -0.899 (-0.67%) from the week prior. Moreover, note that this is the 3rd week in a row GBPJPY has seen its price head down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Of note is that the 50 week changed directions on GBPJPY; it is now pointing down. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GBPJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPJPY Down 14 Pips in Last Hour, 2 Day Down Streak Broken; in an Uptrend Over Past 14 Days
This imputes a buy/sell ratio of 1.12, which is neutral.
GBPJPY Up 3 Pips in Last Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
A good chance to sell it might happen after breaking through the support line of the channel.will love to see it drop down to test s2 for 300-400 pips.
GBPJPY Up 36 Pips On Hourly Chart, 2 Day Up Streak Broken; 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 4 Pips in Last Hour, 2 Day Up Streak Ended; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, gbpjpy ranked 18th yesterday in terms of percentage price change.
GBPJPY Up 8 Pips On Hourly Chart
The closest is the 20 day average, which is 226.8 pips away.
GBPJPY Down 12 Pips Over Past Hour
At the time of this writing, gbpjpy’s rate is down -11.6 pips (-0.08%) from the hour prior.
GBPJPY Up 4 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Doji and Pin Bar Patterns Appearing on Chart
This imputes a buy/sell ratio of 2.45, which is bullish.
GBP/JPY Up 3 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 30 days gbp/jpy’s price has gone up 16 them.
GBP/JPY Up 27 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Eyes 20 Day Average
Volatility for gbp/jpy has been contracting over the past two weeks relative to volatility over the past month.