GBP/JPY - 1H - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 195.83 JPY
My targets
197.81 JPY (+0.82)
200.08 JPY (+3.09)
My analysis
The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 195.83 JPY, you could try to benefit from the boom. The first bullish objective is located at 197.81 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 200.08 JPY as an objective. Crossing it would then enable buyers to target 215.53 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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 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
GBP/JPY rating 196.99 JPY. The price has increased by +0.02% since the last closing with the lowest point at 196.77 JPY and the highest point at 197.09 JPY. The deviation from the price is +0.11% for the low point and -0.05% for the high point.196.77
197.09
196.99
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
Here is a more detailed summary of the historical variations registered by GBP/JPY:
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
A technical analysis in 1H of this GBP/JPY chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 192.92 | 194.76 | 195.83 | 196.99 | 197.04 | 197.81 | 215.53 |
Change (%) | -2.07% | -1.13% | -0.59% | - | +0.03% | +0.42% | +9.41% |
Change | -4.07 | -2.23 | -1.16 | - | +0.05 | +0.82 | +18.54 |
Level | Intermediate | Intermediate | Intermediate | - | Intermediate | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 194.76 | 195.24 | 196.10 | 196.58 | 197.44 | 197.92 | 198.78 |
Camarilla | 196.59 | 196.71 | 196.84 | 196.96 | 197.08 | 197.21 | 197.33 |
Woodie | 194.95 | 195.34 | 196.29 | 196.68 | 197.63 | 198.02 | 198.97 |
Fibonacci | 195.24 | 195.75 | 196.07 | 196.58 | 197.09 | 197.41 | 197.92 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 189.10 | 190.39 | 192.76 | 194.05 | 196.42 | 197.71 | 200.08 |
Camarilla | 194.11 | 194.45 | 194.79 | 195.12 | 195.46 | 195.79 | 196.13 |
Woodie | 189.63 | 190.66 | 193.29 | 194.32 | 196.95 | 197.98 | 200.61 |
Fibonacci | 190.39 | 191.79 | 192.66 | 194.05 | 195.45 | 196.32 | 197.71 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 180.56 | 185.27 | 191.15 | 195.86 | 201.74 | 206.45 | 212.33 |
Camarilla | 194.11 | 195.08 | 196.05 | 197.02 | 197.99 | 198.96 | 199.93 |
Woodie | 181.14 | 185.56 | 191.73 | 196.15 | 202.32 | 206.74 | 212.91 |
Fibonacci | 185.27 | 189.32 | 191.82 | 195.86 | 199.91 | 202.41 | 206.45 |
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): | 65.93 | |
MACD (12,26,9): | 0.2100 | |
Directional Movement: | 13.72 | |
AROON (14): | 85.71 | |
DEMA (21): | 197.11 | |
Parabolic SAR (0,02-0,02-0,2): | 196.71 | |
Elder Ray (13): | 0.10 | |
Super Trend (3,10): | 196.54 | |
Zig ZAG (10): | 197.01 | |
VORTEX (21): | 1.1600 | |
Stochastique (14,3,5): | 84.78 | |
TEMA (21): | 197.08 | |
Williams %R (14): | -28.13 | |
Chande Momentum Oscillator (20): | 0.05 | |
Repulse (5,40,3): | 0.0100 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0200 | |
Courbe Coppock: | 0.34 |
MA7: | 195.35 | |
MA20: | 194.36 | |
MA50: | 192.30 | |
MA100: | 189.74 | |
MAexp7: | 196.96 | |
MAexp20: | 196.81 | |
MAexp50: | 196.34 | |
MAexp100: | 195.76 | |
Price / MA7: | +0.84% | |
Price / MA20: | +1.35% | |
Price / MA50: | +2.44% | |
Price / MA100: | +3.82% | |
Price / MAexp7: | +0.02% | |
Price / MAexp20: | +0.09% | |
Price / MAexp50: | +0.33% | |
Price / MAexp100: | +0.63% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on GBP/JPY at the time of the analysis were as follows:
- Trading the trend: Time to go long GBP/JPY?
- GBP/JPY Forecast May 3, 2024
- GBP/JPY Forecast April 30, 2024
- GBP/JPY Forecast April 25, 2024
- GBP/JPY Forecast April 18, 2024
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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