Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
This is the 2nd consecutive hour gbpjpy has seen its price head down.
Volatility for gbpjpy has been contracting over the past two weeks relative to volatility over the past month.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
This move is a reversal from the hour prior, which saw price move up.
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
Relative to other instruments in the forex asset class, gbpjpy ranked 23rd yesterday in terms of percentage price change.
Relative to other instruments in the forex asset class, gbpjpy ranked 20th yesterday in terms of percentage price change.
Compared to its peers in the forex, gbpjpy gave its buyers a return that ranked 35th in terms of percentage change since the previous day.
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpjpy.