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
56%
0%
44%
My opinion
Bullish above 195.83 JPY
My targets
196.42 JPY (+0.39)
199.31 JPY (+3.28)
My analysis
GBP/JPY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 195.83 JPY. The next resistance located at 196.42 JPY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 199.31 JPY. After this resistance, buyers could then target 215.53 JPY. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.9
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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 196.03 JPY. The price has increased by +0.71% since the last closing and was between 193.97 JPY and 196.63 JPY. This implies that the price is at +1.06% from its lowest and at -0.31% from its highest.193.97
196.63
196.03
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
A technical analysis in 1H of this GBP/JPY chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are bullish. There is still some doubt about the price increase.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator: bearish divergence
Type : Bearish
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 Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 193.61 | 194.95 | 195.83 | 196.03 | 215.53 |
Change (%) | -1.23% | -0.55% | -0.10% | - | +9.95% |
Change | -2.42 | -1.08 | -0.20 | - | +19.50 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 69.18 | |
MACD (12,26,9): | 0.5200 | |
Directional Movement: | -6.96 | |
AROON (14): | 28.57 | |
DEMA (21): | 196.17 | |
Parabolic SAR (0,02-0,02-0,2): | 194.08 | |
Elder Ray (13): | 0.35 | |
Super Trend (3,10): | 194.87 | |
Zig ZAG (10): | 196.08 | |
VORTEX (21): | 1.1500 | |
Stochastique (14,3,5): | 81.70 | |
TEMA (21): | 196.31 | |
Williams %R (14): | -22.93 | |
Chande Momentum Oscillator (20): | 1.61 | |
Repulse (5,40,3): | 0.0300 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0300 | |
Courbe Coppock: | 1.49 |
MA7: | 193.08 | |
MA20: | 192.14 | |
MA50: | 191.05 | |
MA100: | 187.97 | |
MAexp7: | 196.03 | |
MAexp20: | 195.49 | |
MAexp50: | 194.62 | |
MAexp100: | 193.74 | |
Price / MA7: | +1.53% | |
Price / MA20: | +2.02% | |
Price / MA50: | +2.61% | |
Price / MA100: | +4.29% | |
Price / MAexp7: | -0% | |
Price / MAexp20: | +0.28% | |
Price / MAexp50: | +0.72% | |
Price / MAexp100: | +1.18% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on GBP/JPY at the time of the analysis were 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.
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