GBP/JPY Up 37 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart

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Hourly Update (Last Updated February 22, 2021 1:50 GMT) Currently, GBPJPY’s rate is up 37.4 pips (0.25%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPJPY has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on GBPJPY; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200…

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