JPY/NOK - 1H - Technical analysis published on 08/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 0.07349 NOK
My targets
0.07502 NOK (+0.00042)
0.07529 NOK (+0.00069)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on JPY/NOK as long as the price remains well above 0.07349 NOK. The buyers' bullish objective is set at 0.07502 NOK. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 0.07529 NOK. If there is any crossing, the next objective would be the resistance located at 0.08081 NOK. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
0
10
8.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
JPY/NOK rating 0.07460 NOK. The price registered an increase of +1.58% on the session with the lowest point at 0.07306 NOK and the highest point at 0.07489 NOK. The deviation from the price is +2.11% for the low point and -0.39% for the high point.0.07306
0.07489
0.07460
Here is a more detailed summary of the historical variations registered by JPY/NOK:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of JPY/NOK indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a strong bullish signal.
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
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
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
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.07133 | 0.07233 | 0.07338 | 0.07460 | 0.07502 | 0.08081 | 0.09127 |
| Change (%) | -4.38% | -3.04% | -1.64% | - | +0.56% | +8.32% | +22.35% |
| Change | -0.00327 | -0.00227 | -0.00122 | - | +0.00042 | +0.00621 | +0.01667 |
| Level | Intermediate | Major | Minor | - | Major | Major | Intermediate |
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 | 0.07104 | 0.07157 | 0.07250 | 0.07303 | 0.07396 | 0.07449 | 0.07542 |
| Camarilla | 0.07304 | 0.07317 | 0.07331 | 0.07344 | 0.07357 | 0.07371 | 0.07384 |
| Woodie | 0.07125 | 0.07167 | 0.07271 | 0.07313 | 0.07417 | 0.07459 | 0.07563 |
| Fibonacci | 0.07157 | 0.07212 | 0.07247 | 0.07303 | 0.07358 | 0.07393 | 0.07449 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.06547 | 0.06727 | 0.06948 | 0.07128 | 0.07349 | 0.07529 | 0.07750 |
| Camarilla | 0.07060 | 0.07097 | 0.07133 | 0.07170 | 0.07207 | 0.07244 | 0.07280 |
| Woodie | 0.06569 | 0.06737 | 0.06970 | 0.07138 | 0.07371 | 0.07539 | 0.07772 |
| Fibonacci | 0.06727 | 0.06880 | 0.06975 | 0.07128 | 0.07281 | 0.07376 | 0.07529 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.05985 | 0.06254 | 0.06768 | 0.07037 | 0.07551 | 0.07820 | 0.08334 |
| Camarilla | 0.07066 | 0.07138 | 0.07209 | 0.07281 | 0.07353 | 0.07425 | 0.07496 |
| Woodie | 0.06107 | 0.06315 | 0.06890 | 0.07098 | 0.07673 | 0.07881 | 0.08456 |
| Fibonacci | 0.06254 | 0.06553 | 0.06738 | 0.07037 | 0.07336 | 0.07521 | 0.07820 |
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): | 72.04 | |
| MACD (12,26,9): | 0.0004 | |
| Directional Movement: | 26.79125 | |
| AROON (14): | 78.57143 | |
| DEMA (21): | 0.07443 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.07386 | |
| Elder Ray (13): | 0.00049 | |
| Super Trend (3,10): | 0.07347 | |
| Zig ZAG (10): | 0.07459 | |
| VORTEX (21): | 1.2048 | |
| Stochastique (14,3,5): | 80.71 | |
| TEMA (21): | 0.07461 | |
| Williams %R (14): | -18.54 | |
| Chande Momentum Oscillator (20): | 0.00119 | |
| Repulse (5,40,3): | 0.3235 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0682 | |
| Courbe Coppock: | 2.98 |
| MA7: | 0.07250 | |
| MA20: | 0.06984 | |
| MA50: | 0.06807 | |
| MA100: | 0.06921 | |
| MAexp7: | 0.07437 | |
| MAexp20: | 0.07389 | |
| MAexp50: | 0.07327 | |
| MAexp100: | 0.07268 | |
| Price / MA7: | +2.90% | |
| Price / MA20: | +6.82% | |
| Price / MA50: | +9.59% | |
| Price / MA100: | +7.79% | |
| Price / MAexp7: | +0.31% | |
| Price / MAexp20: | +0.96% | |
| Price / MAexp50: | +1.82% | |
| Price / MAexp100: | +2.64% |
Quotes :
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Real time data
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Forex
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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