EUR/JPY - 1H - Technical analysis published on 08/06/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
67%
6%
28%
My opinion
Bullish above 158.87 JPY
My targets
161.45 JPY (+2.37)
162.85 JPY (+3.77)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for EUR/JPY as long as the price remains well above 158.87 JPY. The buyers' bullish objective is set at 161.45 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 162.85 JPY. If there is any crossing, the next objective would be the resistance located at 164.13 JPY. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 161.45 JPY. On this resistance, against the trend traders who would like to go short on EUR/JPY with a bearish signal from their trading strategy, should not hesitate to act.
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
2.3
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Additional analysis
Quotes
EUR/JPY rating 159.08 JPY. The price registered a decrease of -0.36% on the session and was between 158.08 JPY and 160.23 JPY. This implies that the price is at +0.63% from its lowest and at -0.72% from its highest.158.08
160.23
159.08
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/JPY indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that this slightly bearish trend could quickly be reversed. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 12 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
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
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 149.26 | 154.81 | 158.87 | 159.08 | 161.45 | 162.85 | 164.13 |
| Change (%) | -6.17% | -2.68% | -0.13% | - | +1.49% | +2.37% | +3.17% |
| Change | -9.82 | -4.27 | -0.21 | - | +2.37 | +3.77 | +5.05 |
| Level | Intermediate | Major | Intermediate | - | Minor | Minor | 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 | 150.11 | 152.26 | 155.96 | 158.11 | 161.81 | 163.96 | 167.66 |
| Camarilla | 158.05 | 158.59 | 159.12 | 159.66 | 160.20 | 160.73 | 161.27 |
| Woodie | 150.89 | 152.65 | 156.74 | 158.50 | 162.59 | 164.35 | 168.44 |
| Fibonacci | 152.26 | 154.50 | 155.88 | 158.11 | 160.35 | 161.73 | 163.96 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 148.84 | 154.27 | 157.09 | 162.52 | 165.34 | 170.77 | 173.59 |
| Camarilla | 157.64 | 158.40 | 159.15 | 159.91 | 160.67 | 161.42 | 162.18 |
| Woodie | 147.54 | 153.62 | 155.79 | 161.87 | 164.04 | 170.12 | 172.29 |
| Fibonacci | 154.27 | 157.42 | 159.37 | 162.52 | 165.67 | 167.62 | 170.77 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 144.20 | 153.10 | 157.62 | 166.52 | 171.04 | 179.94 | 184.46 |
| Camarilla | 158.44 | 159.67 | 160.90 | 162.13 | 163.36 | 164.59 | 165.82 |
| Woodie | 142.00 | 152.01 | 155.42 | 165.43 | 168.84 | 178.85 | 182.26 |
| Fibonacci | 153.10 | 158.23 | 161.40 | 166.52 | 171.65 | 174.82 | 179.94 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 57.34 | |
| MACD (12,26,9): | 0.2000 | |
| Directional Movement: | 8.43 | |
| AROON (14): | 64.28 | |
| DEMA (21): | 158.25 | |
| Parabolic SAR (0,02-0,02-0,2): | 157.94 | |
| Elder Ray (13): | 0.71 | |
| Super Trend (3,10): | 156.58 | |
| Zig ZAG (10): | 159.05 | |
| VORTEX (21): | 1.2200 | |
| Stochastique (14,3,5): | 68.73 | |
| TEMA (21): | 159.00 | |
| Williams %R (14): | -30.38 | |
| Chande Momentum Oscillator (20): | 1.31 | |
| Repulse (5,40,3): | 0.2800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 2.86 |
| MA7: | 161.89 | |
| MA20: | 167.56 | |
| MA50: | 169.62 | |
| MA100: | 167.88 | |
| MAexp7: | 158.75 | |
| MAexp20: | 158.22 | |
| MAexp50: | 158.88 | |
| MAexp100: | 160.52 | |
| Price / MA7: | -1.74% | |
| Price / MA20: | -5.06% | |
| Price / MA50: | -6.21% | |
| Price / MA100: | -5.24% | |
| Price / MAexp7: | +0.21% | |
| Price / MAexp20: | +0.54% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | -0.90% |
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:
-
EUR/JPY Forecast July 19, 2024
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EUR/JPY Forecast June 20, 2024
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Midweek Technical Look: 30/05/2024 - GBPUSD, EURJPY, Oil
-
EUR/JPY Forecast May 29, 2024
-
Technical Analysis: 02/04/2024 - EURJPY pulls back towards crucial trendline
This member declared not having a position on this financial instrument or a related financial instrument.
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