GBP/JPY - 1H - Technical analysis published on 04/26/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
6%
28%
My opinion
Bullish above 195.83 JPY
My targets
196.42 JPY (+0.21)
199.31 JPY (+3.10)
My analysis
The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 195.83 JPY, you could try to benefit from the boom. The first bullish objective is located at 196.42 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 199.31 JPY as an objective. Crossing it would then enable buyers to target 215.53 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/JPY rating is 196.21 JPY. On the day, this instrument gained +0.81% and was between 193.97 JPY and 196.42 JPY. This implies that the price is at +1.15% from its lowest and at -0.11% from its highest.193.97
196.42
196.21
A study of price movements over other periods shows the following variations:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/JPY indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 193.61 | 194.95 | 195.83 | 196.21 | 215.53 |
Change (%) | -1.33% | -0.64% | -0.19% | - | +9.85% |
Change | -2.60 | -1.26 | -0.38 | - | +19.32 |
Level | Minor | Intermediate | Major | - | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 192.24 | 192.85 | 193.74 | 194.35 | 195.24 | 195.85 | 196.74 |
Camarilla | 194.23 | 194.37 | 194.50 | 194.64 | 194.78 | 194.92 | 195.05 |
Woodie | 192.39 | 192.92 | 193.89 | 194.42 | 195.39 | 195.92 | 196.89 |
Fibonacci | 192.85 | 193.42 | 193.77 | 194.35 | 194.92 | 195.27 | 195.85 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 187.55 | 188.93 | 190.09 | 191.47 | 192.63 | 194.01 | 195.17 |
Camarilla | 190.56 | 190.79 | 191.03 | 191.26 | 191.49 | 191.73 | 191.96 |
Woodie | 187.45 | 188.88 | 189.99 | 191.42 | 192.53 | 193.96 | 195.07 |
Fibonacci | 188.93 | 189.90 | 190.50 | 191.47 | 192.44 | 193.04 | 194.01 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 182.57 | 185.26 | 188.15 | 190.84 | 193.73 | 196.42 | 199.31 |
Camarilla | 189.50 | 190.01 | 190.52 | 191.03 | 191.54 | 192.05 | 192.57 |
Woodie | 182.66 | 185.31 | 188.24 | 190.89 | 193.82 | 196.47 | 199.40 |
Fibonacci | 185.26 | 187.40 | 188.71 | 190.84 | 192.98 | 194.29 | 196.42 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
RSI (14): | 80.59 | |
MACD (12,26,9): | 0.5300 | |
Directional Movement: | -9.63 | |
AROON (14): | 0 | |
DEMA (21): | 195.94 | |
Parabolic SAR (0,02-0,02-0,2): | 196.37 | |
Elder Ray (13): | 0.45 | |
Super Trend (3,10): | 194.87 | |
Zig ZAG (10): | 196.18 | |
VORTEX (21): | 1.2100 | |
Stochastique (14,3,5): | 89.80 | |
TEMA (21): | 196.10 | |
Williams %R (14): | -10.61 | |
Chande Momentum Oscillator (20): | 1.54 | |
Repulse (5,40,3): | 0.4900 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0300 | |
Courbe Coppock: | 1.29 |
MA7: | 193.10 | |
MA20: | 192.15 | |
MA50: | 191.06 | |
MA100: | 187.97 | |
MAexp7: | 195.90 | |
MAexp20: | 195.28 | |
MAexp50: | 194.42 | |
MAexp100: | 193.60 | |
Price / MA7: | +1.61% | |
Price / MA20: | +2.11% | |
Price / MA50: | +2.70% | |
Price / MA100: | +4.38% | |
Price / MAexp7: | +0.16% | |
Price / MAexp20: | +0.48% | |
Price / MAexp50: | +0.92% | |
Price / MAexp100: | +1.35% |
Quotes :
-
Real time data
-
Forex
News
The last news published on GBP/JPY at the time of the generation of this analysis was as follows:
- GBP/JPY Forecast April 25, 2024
- GBP/JPY Forecast April 18, 2024
- GBP/JPY Forecast April 17, 2024
- Technical Analysis: 22/03/2024 - GBPJPY plummets from 8½-year high
- Technical Analysis: 15/03/2024 - GBPJPY ticks up from rising trend line
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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