EUR/JPY - 1H - Technical analysis published on 05/14/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
6%
44%
My opinion
Bullish above 168.70 JPY
My targets
169.54 JPY (+0.34)
My analysis
EUR/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 168.70 JPY. The next resistance located at 169.54 JPY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. 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.
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 dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/JPY price is 169.20 JPY. The price has increased by +0.35% since the last closing with the lowest point at 168.55 JPY and the highest point at 169.39 JPY. The deviation from the price is +0.39% for the low point and -0.11% for the high point.168.55
169.39
169.20
A study of price movements over other periods shows the following variations:
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 EUR/JPY in 1H shows a strongly overall bullish trend. 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 is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bullish signal.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 165.65 | 167.50 | 168.70 | 169.20 | 169.54 |
| Change (%) | -2.10% | -1.00% | -0.30% | - | +0.20% |
| Change | -3.55 | -1.70 | -0.50 | - | +0.34 |
| Level | Minor | Intermediate | Intermediate | - | Major |
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 | 166.64 | 167.07 | 167.84 | 168.27 | 169.04 | 169.47 | 170.24 |
| Camarilla | 168.28 | 168.39 | 168.50 | 168.61 | 168.72 | 168.83 | 168.94 |
| Woodie | 166.81 | 167.16 | 168.01 | 168.36 | 169.21 | 169.56 | 170.41 |
| Fibonacci | 167.07 | 167.53 | 167.81 | 168.27 | 168.73 | 169.01 | 169.47 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 161.95 | 163.20 | 165.49 | 166.74 | 169.03 | 170.28 | 172.57 |
| Camarilla | 166.82 | 167.14 | 167.47 | 167.79 | 168.12 | 168.44 | 168.76 |
| Woodie | 162.48 | 163.46 | 166.02 | 167.00 | 169.56 | 170.54 | 173.10 |
| Fibonacci | 163.20 | 164.55 | 165.38 | 166.74 | 168.09 | 168.92 | 170.28 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 153.81 | 158.04 | 163.16 | 167.39 | 172.51 | 176.74 | 181.86 |
| Camarilla | 165.71 | 166.57 | 167.42 | 168.28 | 169.14 | 169.99 | 170.85 |
| Woodie | 154.26 | 158.26 | 163.61 | 167.61 | 172.96 | 176.96 | 182.31 |
| Fibonacci | 158.04 | 161.61 | 163.82 | 167.39 | 170.96 | 173.17 | 176.74 |
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): | 69.16 | |
| MACD (12,26,9): | 0.2200 | |
| Directional Movement: | 12.58 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 169.32 | |
| Parabolic SAR (0,02-0,02-0,2): | 169.03 | |
| Elder Ray (13): | 0.09 | |
| Super Trend (3,10): | 168.79 | |
| Zig ZAG (10): | 169.19 | |
| VORTEX (21): | 1.1700 | |
| Stochastique (14,3,5): | 82.14 | |
| TEMA (21): | 169.35 | |
| Williams %R (14): | -23.81 | |
| Chande Momentum Oscillator (20): | 0.44 | |
| Repulse (5,40,3): | -0.0500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 0.60 |
| MA7: | 167.51 | |
| MA20: | 166.56 | |
| MA50: | 164.59 | |
| MA100: | 162.44 | |
| MAexp7: | 169.22 | |
| MAexp20: | 169.03 | |
| MAexp50: | 168.62 | |
| MAexp100: | 168.13 | |
| Price / MA7: | +1.01% | |
| Price / MA20: | +1.59% | |
| Price / MA50: | +2.80% | |
| Price / MA100: | +4.16% | |
| Price / MAexp7: | -0.01% | |
| Price / MAexp20: | +0.10% | |
| Price / MAexp50: | +0.34% | |
| Price / MAexp100: | +0.64% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on EUR/JPY at the time of the analysis were as follows:
-
Technical Analysis: 02/04/2024 - EURJPY pulls back towards crucial trendline
-
EUR/JPY Forecast April 1, 2024
-
Technical Analysis: 27/03/2024 - Will EURJPY re-test the 16-year high soon?
-
Technical Analysis: 12/03/2024 - EURJPY drops below ascending channel
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Technical Analysis: 05/03/2024 - EURJPY recovers from mild pullback
This member declared not having a position on this financial instrument or a related financial instrument.
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