JPY/ZAR - 1H - Technical analysis published on 03/18/2024 (GMT)
- 99
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 0.12684 ZAR
My targets
0.12746 ZAR (+0.00036)
0.12833 ZAR (+0.00123)
My analysis
The bullish trend is currently very strong on JPY/ZAR. As long as the price remains above the support at 0.12684 ZAR, you could try to benefit from the boom. The first bullish objective is located at 0.12746 ZAR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 0.12833 ZAR as an objective. Crossing it would then enable buyers to target 0.13146 ZAR. 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
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
JPY/ZAR rating 0.12710 ZAR. The price has increased by +1.04% since the last closing and was traded between 0.12567 ZAR and 0.12741 ZAR over the period. The price is currently at +1.14% from its lowest and -0.24% from its highest.0.12567
0.12741
0.12710
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of JPY/ZAR indicates that the overall trend is strongly bullish. 89.29% 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, 13 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
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 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.12608 | 0.12663 | 0.12684 | 0.12710 | 0.12746 | 0.12833 | 0.13146 |
| Change (%) | -0.80% | -0.37% | -0.20% | - | +0.28% | +0.97% | +3.43% |
| Change | -0.00102 | -0.00047 | -0.00026 | - | +0.00036 | +0.00123 | +0.00436 |
| Level | Intermediate | Major | Intermediate | - | Minor | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.12403 | 0.12471 | 0.12525 | 0.12593 | 0.12647 | 0.12715 | 0.12769 |
| Camarilla | 0.12546 | 0.12557 | 0.12568 | 0.12579 | 0.12590 | 0.12601 | 0.12613 |
| Woodie | 0.12396 | 0.12468 | 0.12518 | 0.12590 | 0.12640 | 0.12712 | 0.12762 |
| Fibonacci | 0.12471 | 0.12518 | 0.12546 | 0.12593 | 0.12640 | 0.12668 | 0.12715 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.12192 | 0.12366 | 0.12472 | 0.12646 | 0.12752 | 0.12926 | 0.13032 |
| Camarilla | 0.12502 | 0.12528 | 0.12553 | 0.12579 | 0.12605 | 0.12630 | 0.12656 |
| Woodie | 0.12159 | 0.12349 | 0.12439 | 0.12629 | 0.12719 | 0.12909 | 0.12999 |
| Fibonacci | 0.12366 | 0.12473 | 0.12539 | 0.12646 | 0.12753 | 0.12819 | 0.12926 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.12200 | 0.12356 | 0.12574 | 0.12730 | 0.12948 | 0.13104 | 0.13322 |
| Camarilla | 0.12690 | 0.12724 | 0.12759 | 0.12793 | 0.12827 | 0.12862 | 0.12896 |
| Woodie | 0.12232 | 0.12372 | 0.12606 | 0.12746 | 0.12980 | 0.13120 | 0.13354 |
| Fibonacci | 0.12356 | 0.12499 | 0.12587 | 0.12730 | 0.12873 | 0.12961 | 0.13104 |
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): | 68.97 | |
| MACD (12,26,9): | 0.0003 | |
| Directional Movement: | 23.69649 | |
| AROON (14): | 85.71428 | |
| DEMA (21): | 0.12693 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.12685 | |
| Elder Ray (13): | 0.00045 | |
| Super Trend (3,10): | 0.12648 | |
| Zig ZAG (10): | 0.12709 | |
| VORTEX (21): | 1.2495 | |
| Stochastique (14,3,5): | 91.12 | |
| TEMA (21): | 0.12723 | |
| Williams %R (14): | -17.75 | |
| Chande Momentum Oscillator (20): | 0.00118 | |
| Repulse (5,40,3): | 0.0185 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0234 | |
| Courbe Coppock: | 1.89 |
| MA7: | 0.12659 | |
| MA20: | 0.12687 | |
| MA50: | 0.12736 | |
| MA100: | 0.12706 | |
| MAexp7: | 0.12702 | |
| MAexp20: | 0.12656 | |
| MAexp50: | 0.12629 | |
| MAexp100: | 0.12629 | |
| Price / MA7: | +0.40% | |
| Price / MA20: | +0.18% | |
| Price / MA50: | -0.20% | |
| Price / MA100: | +0.03% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.43% | |
| Price / MAexp50: | +0.64% | |
| Price / MAexp100: | +0.64% |
Quotes :
-
Real time data
-
Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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 JPY/ZAR - 1H