EUR/JPY - Weekly - Technical analysis published on 10/25/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
50%
17%
33%
My opinion
Bullish above 159.56 JPY
My targets
169.54 JPY (+5.21)
175.06 JPY (+10.73)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/JPY as long as the price remains well above 159.56 JPY. The buyers' bullish objective is set at 169.54 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 175.06 JPY. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
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
5.4
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This analysis was given by OzO. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/JPY price is 164.33 JPY. The price is up +1.10% over 5 days with the lowest point at 162.00 JPY and the highest point at 165.02 JPY. The deviation from the price is +1.44% for the low point and -0.42% for the high point.162.00
165.02
164.33
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 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of EUR/JPY indicates that the overall trend is strongly bullish. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Weekly
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Weekly
In fact, only 9 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Weekly
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Weekly
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 149.26 | 154.81 | 164.13 | 164.33 | 169.54 | 175.06 |
| Change (%) | -9.17% | -5.79% | -0.12% | - | +3.17% | +6.53% |
| Change | -15.07 | -9.52 | -0.20 | - | +5.21 | +10.73 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | 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 | 162.86 | 163.33 | 163.81 | 164.28 | 164.76 | 165.23 | 165.71 |
| Camarilla | 164.03 | 164.12 | 164.20 | 164.29 | 164.38 | 164.46 | 164.55 |
| Woodie | 162.87 | 163.33 | 163.82 | 164.28 | 164.77 | 165.23 | 165.72 |
| Fibonacci | 163.33 | 163.69 | 163.92 | 164.28 | 164.64 | 164.87 | 165.23 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 159.92 | 160.89 | 161.68 | 162.65 | 163.44 | 164.41 | 165.20 |
| Camarilla | 162.00 | 162.16 | 162.32 | 162.48 | 162.64 | 162.80 | 162.96 |
| Woodie | 159.84 | 160.85 | 161.60 | 162.61 | 163.36 | 164.37 | 165.12 |
| Fibonacci | 160.89 | 161.56 | 161.97 | 162.65 | 163.32 | 163.73 | 164.41 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 147.30 | 151.22 | 155.64 | 159.56 | 163.98 | 167.90 | 172.32 |
| Camarilla | 157.76 | 158.52 | 159.29 | 160.05 | 160.82 | 161.58 | 162.34 |
| Woodie | 147.54 | 151.35 | 155.88 | 159.69 | 164.22 | 168.03 | 172.56 |
| Fibonacci | 151.22 | 154.41 | 156.38 | 159.56 | 162.75 | 164.72 | 167.90 |
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): | 51.75 | |
| MACD (12,26,9): | -0.8000 | |
| Directional Movement: | -3.39 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 162.32 | |
| Parabolic SAR (0,02-0,02-0,2): | 154.41 | |
| Elder Ray (13): | 0.90 | |
| Super Trend (3,10): | 168.72 | |
| Zig ZAG (10): | 164.24 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 47.40 | |
| TEMA (21): | 160.70 | |
| Williams %R (14): | -43.07 | |
| Chande Momentum Oscillator (20): | 4.32 | |
| Repulse (5,40,3): | 1.9900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 8.82 |
| MA7: | 163.49 | |
| MA20: | 162.64 | |
| MA50: | 160.93 | |
| MA100: | 164.60 | |
| MAexp7: | 162.32 | |
| MAexp20: | 163.15 | |
| MAexp50: | 162.13 | |
| MAexp100: | 156.94 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | +1.04% | |
| Price / MA50: | +2.11% | |
| Price / MA100: | -0.16% | |
| Price / MAexp7: | +1.24% | |
| Price / MAexp20: | +0.72% | |
| Price / MAexp50: | +1.36% | |
| Price / MAexp100: | +4.71% |
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:
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EUR/JPY Forecast October 24, 2024
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EUR/JPY Forecast October 2, 2024
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EUR/JPY Forecast September 20, 2024
-
EUR/JPY Forecast September 18, 2024
-
EUR/JPY Forecast September 3, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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