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
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.

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.