GBP/JPY Down 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Consecutive Day
For additional context, note that price has gone up 15 out of the past 30 days.
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 13 Pips in Last Hour; Moves Down For the 3rd Day In A Row
The closest is the 100 day average, which is 99.2 pips away.
GBPJPY Down 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; 3 Day Up Streak Snapped
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 On Hourly Chart, Eyes 20 and 100 Day Averages; Pin Bar Pattern Appearing on Chart
It’s been a feast for bears operating on an hourly timeframe, as gbpjpy has now gone down 4 of the past 5 hours.
GBPJPY Up 4 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 30 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
GBPJPY Up 14 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Crosses 100 Day Moving Average
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
GBPJPY Up 11 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 100 Day Average
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPJPY Up 9 Pips Over Past Hour, 2 Day Up Streak Broken; Doji and Pin Bar Patterns Appearing on Chart
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.
GBPJPY Down 0 Pips On Hourly Chart, 2 Day Down Streak Snapped; is Inching Close to 20 and 50 Day Averages
This is a reversal of the price action on the previous hour, in which price moved up.
GBPJPY Down 9 Pips in Last Hour, Moves Down For the 2nd Day In A Row; is Inching Close to 100 Day Average
Compared to its peers in the forex, gbpjpy gave its buyers a return that ranked 29th in terms of percentage change since yesterday.