GBP/JPY

- JPY (-)

- Real time data - Forex

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Change:	-
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Type:	Forex
Ticker:	GBPJPY
ISIN:

GBP/JPY - 1H - Technical analysis published on 08/06/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bearish

Technical indicators

78%

22%

My opinion

Bullish above 185.19 JPY

My targets

187.09 JPY (+0.99)

188.33 JPY (+2.23)

My analysis

The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for GBP/JPY as long as the price remains well above 185.19 JPY. The buyers' bullish objective is set at 187.09 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 188.33 JPY. If there is any crossing, the next objective would be the resistance located at 190.98 JPY. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 187.09 JPY. On this resistance, against the trend traders who would like to go short on GBP/JPY with a bearish signal from their trading strategy, should not hesitate to act.

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

2.9

Comment on the analysis

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.

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

Additional analysis

Quotes

GBP/JPY rating 186.10 JPY. The price is lower by -0.19% since the last closing with the lowest point at 184.46 JPY and the highest point at 187.10 JPY. The deviation from the price is +0.89% for the low point and -0.53% for the high point.

184.46

187.10

186.10

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

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:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of GBP/JPY in 1H shows an overall slightly bearish trend. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages indicate that this slightly bearish trend could quickly be reversed. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : 1 hour

Moving Average bullish crossovers : AMA20 & AMA50

Type : Bullish

Timeframe : 1 hour

Technical indicators are strongly bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found no further results concerning independent technical indicators.

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:

Near resistance of channel

Type : Bearish

Timeframe : 1 hour

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	179.46	183.59	185.19	186.10	188.33	190.98	192.92
Change (%)	-3.57%	-1.35%	-0.49%	-	+1.20%	+2.62%	+3.66%
Change	-6.64	-2.51	-0.91	-	+2.23	+4.88	+6.82
Level	Major	Minor	Intermediate	-	Major	Minor	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	174.05	177.08	181.76	184.79	189.47	192.50	197.18
Camarilla	184.33	185.04	185.74	186.45	187.16	187.86	188.57
Woodie	174.89	177.49	182.60	185.20	190.31	192.91	198.02
Fibonacci	177.08	180.02	181.84	184.79	187.73	189.55	192.50

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 technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	61.09
MACD (12,26,9):	0.3600
Directional Movement:	11.67
AROON (14):	42.85
DEMA (21):	185.23
Parabolic SAR (0,02-0,02-0,2):	185.06
Elder Ray (13):	0.95
Super Trend (3,10):	182.74
Zig ZAG (10):	186.51
VORTEX (21):	1.2000
Stochastique (14,3,5):	80.44
TEMA (21):	186.36
Williams %R (14):	-16.11
Chande Momentum Oscillator (20):	3.36
Repulse (5,40,3):	0.5000
ROCnROLL:	-1
TRIX (15,9):	-0.0100
Courbe Coppock:	3.32

MA7:	190.96
MA20:	198.60
MA50:	200.57
MA100:	197.28
MAexp7:	185.82
MAexp20:	185.05
MAexp50:	185.99
MAexp100:	188.52
Price / MA7:	-2.55%
Price / MA20:	-6.29%
Price / MA50:	-7.21%
Price / MA100:	-5.67%
Price / MAexp7:	+0.15%
Price / MAexp20:	+0.57%
Price / MAexp50:	+0.06%
Price / MAexp100:	-1.28%

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:

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

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