EUR/JPY - Daily - Technical analysis published on 08/06/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 161.45 JPY
My targets
154.81 JPY (-4.46)
149.26 JPY (-10.01)
My analysis
EUR/JPY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 161.45 JPY. The next support located at 154.81 JPY is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 149.26 JPY. Below this support, sellers could then target 133.85 JPY. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7
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Additional analysis
Quotes
The EUR/JPY rating is 159.27 JPY. On the day, this instrument lost -0.24% and was traded between 158.08 JPY and 160.23 JPY over the period. The price is currently at +0.75% from its lowest and -0.60% from its highest.158.08
160.23
159.27
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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 LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of EUR/JPY in Daily shows a overall strongly bearish trend. The signals given by moving averages are 85.71% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 20
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
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 | 159.27 | 161.45 | 164.13 | 169.54 |
Change (%) | -6.28% | -2.80% | -0.25% | - | +1.37% | +3.05% | +6.45% |
Change | -10.01 | -4.46 | -0.40 | - | +2.18 | +4.86 | +10.27 |
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 | 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): | 15.59 | |
MACD (12,26,9): | -3.0100 | |
Directional Movement: | -43.83 | |
AROON (14): | -92.86 | |
DEMA (21): | 162.57 | |
Parabolic SAR (0,02-0,02-0,2): | 163.63 | |
Elder Ray (13): | -5.02 | |
Super Trend (3,10): | 164.71 | |
Zig ZAG (10): | 159.47 | |
VORTEX (21): | 0.6700 | |
Stochastique (14,3,5): | 19.70 | |
TEMA (21): | 159.88 | |
Williams %R (14): | -70.81 | |
Chande Momentum Oscillator (20): | -11.84 | |
Repulse (5,40,3): | -0.3600 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.1600 | |
Courbe Coppock: | 11.92 |
MA7: | 161.94 | |
MA20: | 167.58 | |
MA50: | 169.63 | |
MA100: | 167.88 | |
MAexp7: | 161.77 | |
MAexp20: | 165.94 | |
MAexp50: | 168.10 | |
MAexp100: | 167.36 | |
Price / MA7: | -1.65% | |
Price / MA20: | -4.96% | |
Price / MA50: | -6.11% | |
Price / MA100: | -5.13% | |
Price / MAexp7: | -1.55% | |
Price / MAexp20: | -4.02% | |
Price / MAexp50: | -5.25% | |
Price / MAexp100: | -4.83% |
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:
- EUR/JPY Forecast July 19, 2024
- EUR/JPY Forecast June 20, 2024
- 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.
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…
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