GBP/JPY - 1H - Technical analysis published on 05/17/2024 (GMT)
- 72
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 196.21 JPY
My targets
197.81 JPY (+0.66)
200.08 JPY (+2.93)
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 196.21 JPY. The next resistance located at 197.81 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 200.08 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, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/JPY rating 197.15 JPY. The price has increased by +0.12% since the last closing and was between 196.79 JPY and 197.33 JPY. This implies that the price is at +0.18% from its lowest and at -0.09% from its highest.196.79
197.33
197.15
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
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. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 195.83 | 196.21 | 197.08 | 197.15 | 197.81 | 215.53 |
Change (%) | -0.67% | -0.48% | -0.04% | - | +0.33% | +9.32% |
Change | -1.32 | -0.94 | -0.07 | - | +0.66 | +18.38 |
Level | Minor | Minor | Intermediate | - | Intermediate | Intermediate |
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 | 193.73 | 194.38 | 195.65 | 196.30 | 197.57 | 198.22 | 199.49 |
Camarilla | 196.38 | 196.56 | 196.73 | 196.91 | 197.09 | 197.26 | 197.44 |
Woodie | 194.03 | 194.54 | 195.95 | 196.46 | 197.87 | 198.38 | 199.79 |
Fibonacci | 194.38 | 195.12 | 195.57 | 196.30 | 197.04 | 197.49 | 198.22 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 189.10 | 190.39 | 192.76 | 194.05 | 196.42 | 197.71 | 200.08 |
Camarilla | 194.11 | 194.45 | 194.79 | 195.12 | 195.46 | 195.79 | 196.13 |
Woodie | 189.63 | 190.66 | 193.29 | 194.32 | 196.95 | 197.98 | 200.61 |
Fibonacci | 190.39 | 191.79 | 192.66 | 194.05 | 195.45 | 196.32 | 197.71 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 180.56 | 185.27 | 191.15 | 195.86 | 201.74 | 206.45 | 212.33 |
Camarilla | 194.11 | 195.08 | 196.05 | 197.02 | 197.99 | 198.96 | 199.93 |
Woodie | 181.14 | 185.56 | 191.73 | 196.15 | 202.32 | 206.74 | 212.91 |
Fibonacci | 185.27 | 189.32 | 191.82 | 195.86 | 199.91 | 202.41 | 206.45 |
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): | 64.43 | |
MACD (12,26,9): | 0.2400 | |
Directional Movement: | 8.36 | |
AROON (14): | 50.00 | |
DEMA (21): | 197.24 | |
Parabolic SAR (0,02-0,02-0,2): | 197.04 | |
Elder Ray (13): | 0.17 | |
Super Trend (3,10): | 196.58 | |
Zig ZAG (10): | 197.18 | |
VORTEX (21): | 1.2600 | |
Stochastique (14,3,5): | 72.23 | |
TEMA (21): | 197.36 | |
Williams %R (14): | -31.48 | |
Chande Momentum Oscillator (20): | 0.28 | |
Repulse (5,40,3): | -0.0600 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0200 | |
Courbe Coppock: | 0.42 |
MA7: | 196.11 | |
MA20: | 194.83 | |
MA50: | 192.59 | |
MA100: | 190.06 | |
MAexp7: | 197.15 | |
MAexp20: | 196.93 | |
MAexp50: | 196.62 | |
MAexp100: | 196.23 | |
Price / MA7: | +0.53% | |
Price / MA20: | +1.19% | |
Price / MA50: | +2.37% | |
Price / MA100: | +3.73% | |
Price / MAexp7: | -0% | |
Price / MAexp20: | +0.11% | |
Price / MAexp50: | +0.27% | |
Price / MAexp100: | +0.47% |
Quotes :
-
Real time data
-
Forex
News
The latest news and videos published on GBP/JPY at the time of the analysis were as follows:
- Trading the trend: Time to go long GBP/JPY?
- GBP/JPY Forecast May 3, 2024
- GBP/JPY Forecast April 30, 2024
- GBP/JPY Forecast April 25, 2024
- GBP/JPY Forecast April 18, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis GBP/JPY - 1H