EUR/JPY - Daily - Technical analysis published on 08/23/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
56%
17%
28%
My opinion
Bearish under 164.13 JPY
My targets
158.10 JPY (-3.84)
154.81 JPY (-7.13)
My analysis
The bearish basic trend is very strong on EUR/JPY but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 164.13 JPY. Crossing the first support at 158.10 JPY would be a sign of a further potential price plummet. Sellers would then use the next support located at 154.81 JPY as an objective. Crossing it would then enable sellers to target 149.26 JPY. Caution, a return to above the resistance located at 164.13 JPY would be a sign of a possible consolidation phase of the short-term basic trend. 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 are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
3.6
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Additional analysis
Quotes
The EUR/JPY price is 161.94 JPY. The price registered a decrease of -0.36% on the session and was traded between 161.69 JPY and 162.72 JPY over the period. The price is currently at +0.15% from its lowest and -0.48% from its highest.161.69
162.72
161.94
Here is a more detailed summary of the historical variations registered by EUR/JPY:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this EUR/JPY chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : MA50 & MA100
Type : Bearish
Timeframe : Daily
In fact, 10 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 154.81 | 158.10 | 161.45 | 161.94 | 164.13 | 169.54 | 172.65 |
Change (%) | -4.40% | -2.37% | -0.30% | - | +1.35% | +4.69% | +6.61% |
Change | -7.13 | -3.84 | -0.49 | - | +2.19 | +7.60 | +10.71 |
Level | Intermediate | Major | Major | - | Major | Major | Minor |
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 | 160.25 | 160.86 | 161.70 | 162.31 | 163.15 | 163.76 | 164.60 |
Camarilla | 162.13 | 162.26 | 162.40 | 162.53 | 162.66 | 162.80 | 162.93 |
Woodie | 160.36 | 160.92 | 161.81 | 162.37 | 163.26 | 163.82 | 164.71 |
Fibonacci | 160.86 | 161.42 | 161.76 | 162.31 | 162.87 | 163.21 | 163.76 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 156.51 | 158.20 | 160.50 | 162.19 | 164.49 | 166.18 | 168.48 |
Camarilla | 161.69 | 162.06 | 162.42 | 162.79 | 163.16 | 163.52 | 163.89 |
Woodie | 156.81 | 158.35 | 160.80 | 162.34 | 164.79 | 166.33 | 168.78 |
Fibonacci | 158.20 | 159.73 | 160.67 | 162.19 | 163.72 | 164.66 | 166.18 |
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): | 41.83 | |
MACD (12,26,9): | -1.4600 | |
Directional Movement: | -15.74 | |
AROON (14): | 57.14 | |
DEMA (21): | 160.81 | |
Parabolic SAR (0,02-0,02-0,2): | 157.77 | |
Elder Ray (13): | -0.11 | |
Super Trend (3,10): | 164.71 | |
Zig ZAG (10): | 162.02 | |
VORTEX (21): | 0.9300 | |
Stochastique (14,3,5): | 78.68 | |
TEMA (21): | 160.88 | |
Williams %R (14): | -28.68 | |
Chande Momentum Oscillator (20): | 2.13 | |
Repulse (5,40,3): | -0.1700 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.1800 | |
Courbe Coppock: | 0.69 |
MA7: | 162.47 | |
MA20: | 161.76 | |
MA50: | 167.60 | |
MA100: | 167.60 | |
MAexp7: | 162.13 | |
MAexp20: | 163.02 | |
MAexp50: | 165.54 | |
MAexp100: | 166.07 | |
Price / MA7: | -0.33% | |
Price / MA20: | +0.11% | |
Price / MA50: | -3.38% | |
Price / MA100: | -3.38% | |
Price / MAexp7: | -0.12% | |
Price / MAexp20: | -0.66% | |
Price / MAexp50: | -2.17% | |
Price / MAexp100: | -2.49% |
Quotes :
-
Real time data
-
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.
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