GBP/JPY - 1H - Technical analysis published on 08/05/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 183.55 JPY
My targets
179.46 JPY (-1.77)
179.43 JPY (-1.80)
My analysis
GBP/JPY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 183.55 JPY. The next support located at 179.46 JPY is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 179.43 JPY. Below this support, sellers could then target 171.39 JPY. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7.1
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This analysis was given by OzO. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GBP/JPY rating 181.23 JPY. The price registered a decrease of -3.43% on the session and was traded between 180.10 JPY and 187.81 JPY over the period. The price is currently at +0.63% from its lowest and -3.50% from its highest.180.10
187.81
181.23
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/JPY indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Black evening star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 156.05 | 171.39 | 179.46 | 181.23 | 183.59 | 188.33 | 190.98 |
| Change (%) | -13.89% | -5.43% | -0.98% | - | +1.30% | +3.92% | +5.38% |
| Change | -25.18 | -9.84 | -1.77 | - | +2.36 | +7.10 | +9.75 |
| Level | Minor | Minor | Intermediate | - | Minor | Major | Minor |
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 | 183.42 | 185.40 | 186.54 | 188.52 | 189.66 | 191.64 | 192.78 |
| Camarilla | 186.81 | 187.10 | 187.38 | 187.67 | 187.96 | 188.24 | 188.53 |
| Woodie | 182.99 | 185.19 | 186.11 | 188.31 | 189.23 | 191.43 | 192.35 |
| Fibonacci | 185.40 | 186.60 | 187.33 | 188.52 | 189.72 | 190.45 | 191.64 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 171.47 | 179.43 | 183.55 | 191.51 | 195.63 | 203.59 | 207.71 |
| Camarilla | 184.35 | 185.46 | 186.56 | 187.67 | 188.78 | 189.89 | 190.99 |
| Woodie | 169.55 | 178.47 | 181.63 | 190.55 | 193.71 | 202.63 | 205.79 |
| Fibonacci | 179.43 | 184.05 | 186.90 | 191.51 | 196.13 | 198.98 | 203.59 |
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 the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 27.52 | |
| MACD (12,26,9): | -1.9500 | |
| Directional Movement: | -23.65 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 181.63 | |
| Parabolic SAR (0,02-0,02-0,2): | 182.39 | |
| Elder Ray (13): | -1.45 | |
| Super Trend (3,10): | 185.07 | |
| Zig ZAG (10): | 181.55 | |
| VORTEX (21): | 0.7400 | |
| Stochastique (14,3,5): | 20.67 | |
| TEMA (21): | 180.95 | |
| Williams %R (14): | -78.01 | |
| Chande Momentum Oscillator (20): | -4.39 | |
| Repulse (5,40,3): | -0.1900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1400 | |
| Courbe Coppock: | 5.60 |
| MA7: | 191.92 | |
| MA20: | 199.36 | |
| MA50: | 200.76 | |
| MA100: | 197.29 | |
| MAexp7: | 182.15 | |
| MAexp20: | 184.18 | |
| MAexp50: | 187.18 | |
| MAexp100: | 190.16 | |
| Price / MA7: | -5.57% | |
| Price / MA20: | -9.09% | |
| Price / MA50: | -9.73% | |
| Price / MA100: | -8.14% | |
| Price / MAexp7: | -0.51% | |
| Price / MAexp20: | -1.60% | |
| Price / MAexp50: | -3.18% | |
| Price / MAexp100: | -4.70% |
Quotes :
-
Real time data
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Forex
News
The last news published on GBP/JPY at the time of the generation of this analysis was as follows:
-
GBP/JPY Forecast August 2, 2024
-
GBP/JPY Forecast July 31, 2024
-
GBP/JPY Forecast July 24, 2024
-
GBP/JPY Forecast July 22, 2024
-
GBP/JPY Forecast July 19, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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