GBP/JPY - Weekly - Technical analysis published on 08/07/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
6%
67%
28%
My opinion
Bearish under 187.09 JPY
My targets
179.46 JPY (-6.94)
171.39 JPY (-15.01)
My analysis
The strong short-term decline in GBP/JPY calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 187.09 JPY, one could consider taking advantage of the short-term movement. The first bearish objective is located at 179.46 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 171.39 JPY as an objective. Crossing it would then enable sellers to target 156.05 JPY. Be careful, a return to above 187.09 JPY could jeopardize the reversal.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
2.3
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Additional analysis
Quotes
The GBP/JPY rating is 186.40 JPY. Over 5 days, this instrument lost -3.18% with the lowest point at 180.10 JPY and the highest point at 188.08 JPY. The deviation from the price is +3.50% for the low point and -0.89% for the high point.180.10
188.08
186.40
Here is a more detailed summary of the historical variations registered by GBP/JPY:
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
A technical analysis in Weekly of this GBP/JPY chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: a reversal of the trend could be possible given the strong bearish signals of short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Weekly
Bearish trend reversal : adaptative moving average 20
Type : Bearish
Timeframe : Weekly
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : Weekly
In fact, 12 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : Weekly
Support of channel is broken
Type : Bearish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Black hanging man / hammer
Type : Neutral
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 156.05 | 171.39 | 179.46 | 186.40 | 188.33 | 195.83 | 215.53 |
| Change (%) | -16.28% | -8.05% | -3.72% | - | +1.04% | +5.06% | +15.63% |
| Change | -30.35 | -15.01 | -6.94 | - | +1.93 | +9.43 | +29.13 |
| Level | Minor | Intermediate | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 177.61 | 180.21 | 181.90 | 184.50 | 186.19 | 188.79 | 190.48 |
| Camarilla | 182.41 | 182.80 | 183.20 | 183.59 | 183.98 | 184.38 | 184.77 |
| Woodie | 177.16 | 179.98 | 181.45 | 184.27 | 185.74 | 188.56 | 190.03 |
| Fibonacci | 180.21 | 181.85 | 182.86 | 184.50 | 186.14 | 187.15 | 188.79 |
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): | 37.17 | |
| MACD (12,26,9): | 1.6200 | |
| Directional Movement: | -17.44 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 198.86 | |
| Parabolic SAR (0,02-0,02-0,2): | 207.06 | |
| Elder Ray (13): | -12.42 | |
| Super Trend (3,10): | 199.18 | |
| Zig ZAG (10): | 186.59 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 22.28 | |
| TEMA (21): | 197.31 | |
| Williams %R (14): | -77.02 | |
| Chande Momentum Oscillator (20): | -11.20 | |
| Repulse (5,40,3): | -5.0300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.2700 | |
| Courbe Coppock: | 3.65 |
| MA7: | 188.93 | |
| MA20: | 197.40 | |
| MA50: | 200.24 | |
| MA100: | 197.19 | |
| MAexp7: | 195.13 | |
| MAexp20: | 195.84 | |
| MAexp50: | 190.17 | |
| MAexp100: | 181.57 | |
| Price / MA7: | -1.34% | |
| Price / MA20: | -5.57% | |
| Price / MA50: | -6.91% | |
| Price / MA100: | -5.47% | |
| Price / MAexp7: | -4.47% | |
| Price / MAexp20: | -4.82% | |
| Price / MAexp50: | -1.98% | |
| Price / MAexp100: | +2.66% |
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:
-
GBP/JPY Forecast August 2, 2024
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GBP/JPY Forecast July 31, 2024
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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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