GBP/JPY - 1H - Technical analysis published on 11/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 196.69 JPY
My targets
197.99 JPY (+0.78)
198.45 JPY (+1.24)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on GBP/JPY. This is a positive signal for buyers. As long as the price remains above 196.69 JPY, a purchase could be considered. The first bullish objective is located at 197.99 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 198.45 JPY as an objective. Crossing it would then enable buyers to target 198.87 JPY. In the event of a return below 196.69 JPY, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.1
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Additional analysis
Quotes
GBP/JPY rating 197.21 JPY. The price registered an increase of +0.41% on the session and was between 196.24 JPY and 197.25 JPY. This implies that the price is at +0.49% from its lowest and at -0.02% from its highest.196.24
197.25
197.21
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GBP/JPY indicates that the overall trend is bullish. The signals returned by the moving averages are 67.86% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 195.22 | 195.83 | 196.69 | 197.21 | 197.99 | 198.45 | 198.87 |
| Change (%) | -1.01% | -0.70% | -0.26% | - | +0.40% | +0.63% | +0.84% |
| Change | -1.99 | -1.38 | -0.52 | - | +0.78 | +1.24 | +1.66 |
| Level | Minor | Major | Intermediate | - | Minor | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 191.66 | 192.62 | 194.51 | 195.47 | 197.36 | 198.32 | 200.21 |
| Camarilla | 195.63 | 195.89 | 196.15 | 196.41 | 196.67 | 196.93 | 197.19 |
| Woodie | 192.14 | 192.85 | 194.99 | 195.70 | 197.84 | 198.55 | 200.69 |
| Fibonacci | 192.62 | 193.71 | 194.38 | 195.47 | 196.56 | 197.23 | 198.32 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 189.09 | 191.70 | 193.25 | 195.86 | 197.41 | 200.02 | 201.57 |
| Camarilla | 193.67 | 194.05 | 194.43 | 194.81 | 195.19 | 195.57 | 195.95 |
| Woodie | 188.57 | 191.44 | 192.73 | 195.60 | 196.89 | 199.76 | 201.05 |
| Fibonacci | 191.70 | 193.29 | 194.27 | 195.86 | 197.45 | 198.43 | 200.02 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 180.70 | 185.28 | 190.65 | 195.23 | 200.60 | 205.18 | 210.55 |
| Camarilla | 193.28 | 194.20 | 195.11 | 196.02 | 196.93 | 197.84 | 198.76 |
| Woodie | 181.10 | 185.48 | 191.05 | 195.43 | 201.00 | 205.38 | 210.95 |
| Fibonacci | 185.28 | 189.08 | 191.43 | 195.23 | 199.03 | 201.38 | 205.18 |
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): | 69.46 | |
| MACD (12,26,9): | 0.3900 | |
| Directional Movement: | 15.47 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 196.61 | |
| Parabolic SAR (0,02-0,02-0,2): | 195.79 | |
| Elder Ray (13): | 0.59 | |
| Super Trend (3,10): | 195.89 | |
| Zig ZAG (10): | 197.14 | |
| VORTEX (21): | 1.3600 | |
| Stochastique (14,3,5): | 99.20 | |
| TEMA (21): | 196.97 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 1.20 | |
| Repulse (5,40,3): | 0.4000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 1.63 |
| MA7: | 196.73 | |
| MA20: | 197.45 | |
| MA50: | 194.50 | |
| MA100: | 194.42 | |
| MAexp7: | 196.70 | |
| MAexp20: | 196.18 | |
| MAexp50: | 195.95 | |
| MAexp100: | 196.22 | |
| Price / MA7: | +0.24% | |
| Price / MA20: | -0.12% | |
| Price / MA50: | +1.39% | |
| Price / MA100: | +1.44% | |
| Price / MAexp7: | +0.26% | |
| Price / MAexp20: | +0.53% | |
| Price / MAexp50: | +0.64% | |
| Price / MAexp100: | +0.50% |
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 October 14, 2024
-
GBP/JPY Forecast September 26, 2024
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GBP/JPY Forecast September 11, 2024
-
GBP/JPY Forecast August 15, 2024
-
GBP/JPY Forecast August 12, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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