GBP/JPY - 1H - Technical analysis published on 08/01/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
39%
39%
My opinion
Bearish under 192.92 JPY
My targets
191.36 JPY (-0.12)
188.33 JPY (-3.15)
My analysis
The bearish trend is currently very strong for GBP/JPY. As long as the price remains below the resistance at 192.92 JPY, you could try to take advantage of the bearish rally. The first bearish objective is located at 191.36 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 188.33 JPY as an objective. Crossing it would then enable sellers to target 179.46 JPY. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.6
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This analysis was given by shadybhai. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/JPY price is 191.48 JPY. The price is lower by -0.54% since the last closing with the lowest point at 190.97 JPY and the highest point at 192.75 JPY. The deviation from the price is +0.27% for the low point and -0.66% for the high point.190.97
192.75
191.48
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GBP/JPY chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 7 are neutral and 7 are bearish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 171.39 | 179.46 | 188.33 | 191.48 | 192.92 | 195.83 | 198.13 |
Change (%) | -10.49% | -6.28% | -1.65% | - | +0.75% | +2.27% | +3.47% |
Change | -20.09 | -12.02 | -3.15 | - | +1.44 | +4.35 | +6.65 |
Level | Minor | Intermediate | Major | - | Intermediate | 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 | 185.17 | 188.67 | 190.60 | 194.10 | 196.03 | 199.53 | 201.46 |
Camarilla | 191.03 | 191.53 | 192.02 | 192.52 | 193.02 | 193.52 | 194.01 |
Woodie | 184.38 | 188.28 | 189.81 | 193.71 | 195.24 | 199.14 | 200.67 |
Fibonacci | 188.67 | 190.75 | 192.03 | 194.10 | 196.18 | 197.46 | 199.53 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 186.86 | 191.36 | 194.61 | 199.11 | 202.36 | 206.86 | 210.11 |
Camarilla | 195.73 | 196.44 | 197.15 | 197.86 | 198.57 | 199.28 | 199.99 |
Woodie | 186.24 | 191.05 | 193.99 | 198.80 | 201.74 | 206.55 | 209.49 |
Fibonacci | 191.36 | 194.32 | 196.15 | 199.11 | 202.07 | 203.90 | 206.86 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 171.15 | 181.67 | 187.09 | 197.61 | 203.03 | 213.55 | 218.97 |
Camarilla | 188.14 | 189.60 | 191.06 | 192.52 | 193.98 | 195.44 | 196.90 |
Woodie | 168.61 | 180.40 | 184.55 | 196.34 | 200.49 | 212.28 | 216.43 |
Fibonacci | 181.67 | 187.76 | 191.52 | 197.61 | 203.70 | 207.46 | 213.55 |
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): | 37.66 | |
MACD (12,26,9): | -0.7900 | |
Directional Movement: | -13.93 | |
AROON (14): | -14.28 | |
DEMA (21): | 191.36 | |
Parabolic SAR (0,02-0,02-0,2): | 192.68 | |
Elder Ray (13): | -0.44 | |
Super Trend (3,10): | 193.11 | |
Zig ZAG (10): | 191.71 | |
VORTEX (21): | 0.9200 | |
Stochastique (14,3,5): | 19.18 | |
TEMA (21): | 191.40 | |
Williams %R (14): | -69.00 | |
Chande Momentum Oscillator (20): | -1.39 | |
Repulse (5,40,3): | 0.0000 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0600 | |
Courbe Coppock: | 1.23 |
MA7: | 195.99 | |
MA20: | 201.58 | |
MA50: | 201.41 | |
MA100: | 197.41 | |
MAexp7: | 191.75 | |
MAexp20: | 192.46 | |
MAexp50: | 194.03 | |
MAexp100: | 195.63 | |
Price / MA7: | -2.30% | |
Price / MA20: | -5.01% | |
Price / MA50: | -4.93% | |
Price / MA100: | -3.00% | |
Price / MAexp7: | -0.14% | |
Price / MAexp20: | -0.51% | |
Price / MAexp50: | -1.31% | |
Price / MAexp100: | -2.12% |
Quotes :
-
Real time data
-
Forex
News
The last news published on GBP/JPY at the time of the generation of this analysis was as follows:
- GBP/JPY Forecast July 31, 2024
- GBP/JPY Forecast July 24, 2024
- GBP/JPY Forecast July 22, 2024
- GBP/JPY Forecast July 19, 2024
- GBP/JPY Forecast July 10, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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