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GBP/JPY
GBP JPY
- JPY (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: GBPJPY
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GBP/JPY - Weekly - Technical analysis published on 08/01/2024 (GMT)

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  • Timeframe : Weekly
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Summary of the analysis

Trends
Short term: Neutral
Underlying: Bullish
Technical indicators
28%
33%
39%
My opinion
Bullish above 188.33 JPY
My targets
195.83 JPY (+4.64)
203.03 JPY (+11.84)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 188.33 JPY remains possible. It is advisable to trade GBP/JPY with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 188.33 JPY. The next bullish objective for buyers is set at 195.83 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 203.03 JPY. If there is any crossing, the next objective would be the resistance located at 215.53 JPY. PS: if there is a bearish break in the support located at 188.33 JPY we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
3

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

OzO
This analysis was given by OzO. Take part yourself by sharing additional analysis on another time unit:
1H Daily

Additional analysis

Quotes

GBP/JPY rating 191.19 JPY. The price registered a decrease of -3.24% over 5 days and has been traded over the last 5 days between 190.97 JPY and 199.47 JPY. This implies that the 5 day price is +0.12% from its lowest point and -4.15% from its highest point.

190.97
199.47
191.19

A study of price movements over other periods shows the following variations:
The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Central Records

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly


New LOW record (1 month)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of GBP/JPY in Weekly shows an overall bullish trend. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:

Central Indicators

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : Weekly


Bearish price crossover with adaptative moving average 50

Type : Bearish

Timeframe : Weekly



An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : Weekly

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly


RSI indicator is back under 50

Type : Bearish

Timeframe : Weekly


SuperTrend indicator bearish reversal

Type : Bearish

Timeframe : Weekly


Momentum indicator is back under 0

Type : Bearish

Timeframe : Weekly



The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Central Patterns

Near horizontal support

Type : Bullish

Timeframe : Weekly


Support of channel is broken

Type : Bearish

Timeframe : Weekly



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
Price


S3S2S1PriceR1R2
ProTrendLines 171.39 179.46 188.33 191.19 195.83 215.53
Change (%) -10.36% -6.14% -1.50% - +2.43% +12.73%
Change -19.80 -11.73 -2.86 - +4.64 +24.34
Level Minor Intermediate Major - Major Intermediate



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
Standard185.17188.67190.60194.10196.03199.53201.46
Camarilla191.03191.53192.02192.52193.02193.52194.01
Woodie184.38188.28189.81193.71195.24199.14200.67
Fibonacci188.67190.75192.03194.10196.18197.46199.53


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard186.86191.36194.61199.11202.36206.86210.11
Camarilla195.73196.44197.15197.86198.57199.28199.99
Woodie186.24191.05193.99198.80201.74206.55209.49
Fibonacci191.36194.32196.15199.11202.07203.90206.86


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard171.15181.67187.09197.61203.03213.55218.97
Camarilla188.14189.60191.06192.52193.98195.44196.90
Woodie168.61180.40184.55196.34200.49212.28216.43
Fibonacci181.67187.76191.52197.61203.70207.46213.55

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): 43.28
MACD (12,26,9): 3.0800
Directional Movement: -1.22
AROON (14): 78.57
DEMA (21): 201.71
Parabolic SAR (0,02-0,02-0,2): 207.87
Elder Ray (13): -3.52
Super Trend (3,10): 208.25
Zig ZAG (10): 191.65
VORTEX (21): 1.0300
Stochastique (14,3,5): 39.83
TEMA (21): 201.52
Williams %R (14): -96.15
Chande Momentum Oscillator (20): -3.54
Repulse (5,40,3): -6.5600
ROCnROLL: -1
TRIX (15,9): 0.3000
Courbe Coppock: 7.69
MA7: 195.98
MA20: 201.58
MA50: 201.41
MA100: 197.41
MAexp7: 199.00
MAexp20: 197.21
MAexp50: 190.48
MAexp100: 181.56
Price / MA7: -2.44%
Price / MA20: -5.15%
Price / MA50: -5.07%
Price / MA100: -3.15%
Price / MAexp7: -3.92%
Price / MAexp20: -3.05%
Price / MAexp50: +0.37%
Price / MAexp100: +5.30%

Quotes : - Real time data - Forex

News


Don't forget to follow the news on GBP/JPY. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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