GBP/JPY Down 107 Pips On Hourly Chart, Came Into Today Down For the 3rd Consecutive Day; is Inching Close to 20 Day Average

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GBPJPY

Hourly Update (Last Updated March 22, 2021 1:48 GMT) Currently, GBPJPY’s rate is down -107.2 pips (-0.71%) from the hour prior. The hourly chart shows that GBPJPY has seen 3 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should…

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