(Last Updated March 4, 2021)
Hello! This is the news page for 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 |
|---|---|---|---|---|---|---|---|
| United Kingdom Construction PMI | Feb 2021 | British Pound | GBP | 2021-03-04 | 09:30 GMT | 51 | 53.3 |
| Japan Foreign Exchange Reserves | Feb 2021 | Japanese Yen | JPY | 2021-03-04 | 23:50 GMT | ||
| United Kingdom Halifax House Price Index MoM | Feb 2021 | British Pound | GBP | 2021-03-05 | 08:30 GMT | 0% | |
| United Kingdom Halifax House Price Index YoY | Feb 2021 | British Pound | GBP | 2021-03-05 | 08:30 GMT | 4.55% | |
| Japan Current Account | Jan 2021 | Japanese Yen | JPY | 2021-03-07 | 23:50 GMT |
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for GBPJPY.
The moving averages on GBPJPY indicate a trend that is clearly bullish.
Below is a chart showing GBPJPY’s price with its moving averages.
In terms of correlations over the past week for GBPJPY, it has been most correlated with NZDCHF. NZDCHF is the asset with which GBPJPY has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, GBPCAD has been the asset least correlated with GBPJPY — but if we observe the prior two weeks, EURNOK has been the asset least correlated with GBPJPY. 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 time of this writing, GBPJPY’s rate is up 79.96 pips (0.54%) from the week prior. GBPJPY has seen its price go up 12 out of the past 14 weeks, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 5 week timeframe. 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 outlook: choppy. Clear trends not visible on the 24, 60 and 120 month timeframes.
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 30.88% from the day prior, and up 167.92% from the same day the week before.
This imputes a buy/sell ratio of 0.3, which is bearish.
This imputes a buy/sell ratio of 1.1, which is neutral.
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.
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.
Volatility for gbp/jpy has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 35.74% from the day before — and down 35.35% from the same day the week before.
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.
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.