EUR/JPY - 1H - Technical analysis published on 11/15/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 163.17 JPY
My targets
164.39 JPY (+0.59)
164.90 JPY (+1.10)
My analysis
The bullish trend is currently very strong on EUR/JPY. As long as the price remains above the support at 163.17 JPY, you could try to benefit from the boom. The first bullish objective is located at 164.39 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 164.90 JPY as an objective. Crossing it would then enable buyers to target 169.54 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
7.5
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This analysis was given by CarelB. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/JPY rating is 163.80 JPY. The price has increased by +0.06% since the last closing and was traded between 163.62 JPY and 163.93 JPY over the period. The price is currently at +0.11% from its lowest and -0.08% from its highest.163.62
163.93
163.80
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
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 EUR/JPY chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is slight given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 161.35 | 161.73 | 162.38 | 163.80 | 163.83 | 169.54 |
| Change (%) | -1.50% | -1.26% | -0.87% | - | +0.02% | +3.50% |
| Change | -2.45 | -2.07 | -1.42 | - | +0.03 | +5.74 |
| Level | Intermediate | Minor | Minor | - | Intermediate | Intermediate |
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 | 161.06 | 161.64 | 162.67 | 163.25 | 164.28 | 164.86 | 165.89 |
| Camarilla | 163.26 | 163.41 | 163.55 | 163.70 | 163.85 | 164.00 | 164.14 |
| Woodie | 161.29 | 161.75 | 162.90 | 163.36 | 164.51 | 164.97 | 166.12 |
| Fibonacci | 161.64 | 162.26 | 162.64 | 163.25 | 163.87 | 164.25 | 164.86 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 158.84 | 159.47 | 160.69 | 161.32 | 162.54 | 163.17 | 164.39 |
| Camarilla | 161.40 | 161.57 | 161.74 | 161.91 | 162.08 | 162.25 | 162.42 |
| Woodie | 159.14 | 159.62 | 160.99 | 161.47 | 162.84 | 163.32 | 164.69 |
| Fibonacci | 159.47 | 160.18 | 160.61 | 161.32 | 162.03 | 162.46 | 163.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 149.59 | 152.00 | 156.04 | 158.45 | 162.49 | 164.90 | 168.94 |
| Camarilla | 158.32 | 158.91 | 159.50 | 160.09 | 160.68 | 161.27 | 161.86 |
| Woodie | 150.42 | 152.41 | 156.87 | 158.86 | 163.32 | 165.31 | 169.77 |
| Fibonacci | 152.00 | 154.46 | 155.98 | 158.45 | 160.91 | 162.43 | 164.90 |
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): | 74.24 | |
| MACD (12,26,9): | 0.3200 | |
| Directional Movement: | 24.06 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 163.95 | |
| Parabolic SAR (0,02-0,02-0,2): | 163.57 | |
| Elder Ray (13): | 0.12 | |
| Super Trend (3,10): | 163.30 | |
| Zig ZAG (10): | 163.81 | |
| VORTEX (21): | 1.2700 | |
| Stochastique (14,3,5): | 72.92 | |
| TEMA (21): | 163.99 | |
| Williams %R (14): | -29.17 | |
| Chande Momentum Oscillator (20): | 0.19 | |
| Repulse (5,40,3): | -0.0300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 0.51 |
| MA7: | 162.23 | |
| MA20: | 160.28 | |
| MA50: | 158.66 | |
| MA100: | 157.88 | |
| MAexp7: | 163.78 | |
| MAexp20: | 163.52 | |
| MAexp50: | 162.96 | |
| MAexp100: | 162.40 | |
| Price / MA7: | +0.97% | |
| Price / MA20: | +2.20% | |
| Price / MA50: | +3.24% | |
| Price / MA100: | +3.75% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.17% | |
| Price / MAexp50: | +0.52% | |
| Price / MAexp100: | +0.86% |
Quotes :
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Real time data
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Forex
News
The last news published on EUR/JPY at the time of the generation of this analysis was as follows:
-
Technical Analysis: 14/11/2023 - EURJPY uptrend continues but carries risks
-
Technical Analysis: 31/10/2023 - EURJPY speeds up after BoJ’s flexible tone
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Technical Analysis: 12/09/2023 - EURJPY sails sideways as ECB rate decision looms
-
Technical Analysis: 05/09/2023 - EURJPY rebounds from 50-day SMA
-
EUR/JPY hits 15-year high as BoJ indicates it remains dovish
This member declared not having a position on this financial instrument or a related financial instrument.
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