USD/JPY - 1H - Technical analysis published on 04/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
33%
22%
44%
My opinion
Bullish above 151.46 JPY
My targets
151.97 JPY (+0.28)
My analysis
The basic bullish trend is very strong on USD/JPY but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 151.46 JPY. Crossing the first resistance at 151.97 JPY would be a sign of a potential new surge in the price. Caution, a return to below 151.46 JPY would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
5.4
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This analysis was given by MikeBMVP. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/JPY price is 151.69 JPY. The price has increased by +0.09% since the last closing and was traded between 151.44 JPY and 151.96 JPY over the period. The price is currently at +0.17% from its lowest and -0.18% from its highest.151.44
151.96
151.69
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/JPY indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 151.25 | 151.46 | 151.64 | 151.69 | 151.80 | 151.97 |
Change (%) | -0.29% | -0.15% | -0.03% | - | +0.07% | +0.18% |
Change | -0.44 | -0.23 | -0.05 | - | +0.11 | +0.28 |
Level | Minor | Major | Major | - | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 150.91 | 151.18 | 151.43 | 151.70 | 151.95 | 152.22 | 152.47 |
Camarilla | 151.55 | 151.60 | 151.64 | 151.69 | 151.74 | 151.79 | 151.83 |
Woodie | 150.91 | 151.18 | 151.43 | 151.70 | 151.95 | 152.22 | 152.47 |
Fibonacci | 151.18 | 151.38 | 151.50 | 151.70 | 151.90 | 152.02 | 152.22 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 149.96 | 150.49 | 150.90 | 151.43 | 151.84 | 152.37 | 152.78 |
Camarilla | 151.04 | 151.13 | 151.21 | 151.30 | 151.39 | 151.47 | 151.56 |
Woodie | 149.89 | 150.46 | 150.83 | 151.40 | 151.77 | 152.34 | 152.71 |
Fibonacci | 150.49 | 150.85 | 151.07 | 151.43 | 151.79 | 152.01 | 152.37 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 142.37 | 144.43 | 147.86 | 149.92 | 153.35 | 155.41 | 158.84 |
Camarilla | 149.79 | 150.29 | 150.80 | 151.30 | 151.80 | 152.31 | 152.81 |
Woodie | 143.07 | 144.77 | 148.56 | 150.26 | 154.05 | 155.75 | 159.54 |
Fibonacci | 144.43 | 146.52 | 147.82 | 149.92 | 152.01 | 153.31 | 155.41 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 52.30 | |
MACD (12,26,9): | 0.0500 | |
Directional Movement: | 4.52 | |
AROON (14): | 78.57 | |
DEMA (21): | 151.76 | |
Parabolic SAR (0,02-0,02-0,2): | 151.63 | |
Elder Ray (13): | 0.03 | |
Super Trend (3,10): | 151.58 | |
Zig ZAG (10): | 151.71 | |
VORTEX (21): | 1.0700 | |
Stochastique (14,3,5): | 64.88 | |
TEMA (21): | 151.79 | |
Williams %R (14): | -60.47 | |
Chande Momentum Oscillator (20): | 0.13 | |
Repulse (5,40,3): | -0.0800 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.0000 | |
Courbe Coppock: | 0.28 |
MA7: | 151.49 | |
MA20: | 150.00 | |
MA50: | 149.60 | |
MA100: | 147.75 | |
MAexp7: | 151.77 | |
MAexp20: | 151.70 | |
MAexp50: | 151.63 | |
MAexp100: | 151.55 | |
Price / MA7: | +0.13% | |
Price / MA20: | +1.13% | |
Price / MA50: | +1.40% | |
Price / MA100: | +2.67% | |
Price / MAexp7: | -0.05% | |
Price / MAexp20: | -0.01% | |
Price / MAexp50: | +0.04% | |
Price / MAexp100: | +0.09% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on USD/JPY. At the time of publication of this analysis, the latest news was as follows:
- USD/JPY Forecast April 4, 2024
- USD/JPY Daily Forecast and Technical Analysis for April 03, 2024, by Chris Lewis for FX Empire
- USD/JPY Daily Forecast and Technical Analysis for April 02, 2024, by Chris Lewis for FX Empire
- USD/JPY Forecast April 2, 2024
- USD/JPY Daily Forecast and Technical Analysis for April 01, 2024, by Chris Lewis for FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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