USD/JPY - 1H - Technical analysis published on 05/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
50%
39%
My opinion
Bearish under 153.03 JPY
My targets
151.64 JPY (-1.20)
150.17 JPY (-2.67)
My analysis
The bearish trend is currently very strong for USD/JPY. As long as the price remains below the resistance at 153.03 JPY, you could try to take advantage of the bearish rally. The first bearish objective is located at 151.64 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 150.17 JPY as an objective. Crossing it would then enable sellers to target 146.74 JPY. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.3
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Additional analysis
Quotes
The USD/JPY price is 152.84 JPY. On the day, this instrument lost -0.20% with the lowest point at 152.75 JPY and the highest point at 153.45 JPY. The deviation from the price is +0.06% for the low point and -0.40% for the high point.152.75
153.45
152.84
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/JPY indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, only 9 technical indicators out of 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 146.74 | 150.17 | 151.64 | 152.84 | 153.03 | 154.70 | 155.73 |
Change (%) | -3.99% | -1.75% | -0.79% | - | +0.12% | +1.22% | +1.89% |
Change | -6.10 | -2.67 | -1.20 | - | +0.19 | +1.86 | +2.89 |
Level | Intermediate | Major | Major | - | Intermediate | Intermediate | Minor |
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 | 148.51 | 150.69 | 151.92 | 154.10 | 155.33 | 157.51 | 158.74 |
Camarilla | 152.20 | 152.52 | 152.83 | 153.14 | 153.45 | 153.77 | 154.08 |
Woodie | 148.03 | 150.45 | 151.44 | 153.86 | 154.85 | 157.27 | 158.26 |
Fibonacci | 150.69 | 152.00 | 152.80 | 154.10 | 155.41 | 156.21 | 157.51 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 151.73 | 153.10 | 155.71 | 157.08 | 159.69 | 161.06 | 163.67 |
Camarilla | 157.24 | 157.60 | 157.97 | 158.33 | 158.70 | 159.06 | 159.43 |
Woodie | 152.36 | 153.41 | 156.34 | 157.39 | 160.32 | 161.37 | 164.30 |
Fibonacci | 153.10 | 154.62 | 155.56 | 157.08 | 158.60 | 159.54 | 161.06 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 142.88 | 146.84 | 152.30 | 156.26 | 161.72 | 165.68 | 171.14 |
Camarilla | 155.16 | 156.02 | 156.89 | 157.75 | 158.61 | 159.48 | 160.34 |
Woodie | 143.62 | 147.22 | 153.04 | 156.64 | 162.46 | 166.06 | 171.88 |
Fibonacci | 146.84 | 150.44 | 152.67 | 156.26 | 159.86 | 162.09 | 165.68 |
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): | 30.46 | |
MACD (12,26,9): | -0.7200 | |
Directional Movement: | -24.73 | |
AROON (14): | -78.57 | |
DEMA (21): | 152.75 | |
Parabolic SAR (0,02-0,02-0,2): | 153.31 | |
Elder Ray (13): | -0.36 | |
Super Trend (3,10): | 154.21 | |
Zig ZAG (10): | 152.94 | |
VORTEX (21): | 0.7400 | |
Stochastique (14,3,5): | 13.36 | |
TEMA (21): | 152.62 | |
Williams %R (14): | -90.71 | |
Chande Momentum Oscillator (20): | -0.89 | |
Repulse (5,40,3): | -0.2100 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0700 | |
Courbe Coppock: | 1.74 |
MA7: | 155.68 | |
MA20: | 154.51 | |
MA50: | 151.89 | |
MA100: | 149.19 | |
MAexp7: | 153.08 | |
MAexp20: | 153.75 | |
MAexp50: | 154.95 | |
MAexp100: | 155.65 | |
Price / MA7: | -1.82% | |
Price / MA20: | -1.08% | |
Price / MA50: | +0.63% | |
Price / MA100: | +2.45% | |
Price / MAexp7: | -0.16% | |
Price / MAexp20: | -0.59% | |
Price / MAexp50: | -1.36% | |
Price / MAexp100: | -1.81% |
Quotes :
-
Real time data
-
Forex
News
The last news published on USD/JPY at the time of the generation of this analysis was as follows:
- USD/JPY Forecast and Technical Analysis, May 2, 2024, by Chris Lewis #fxempire #trading #USDJPY
- USD/JPY Daily Forecast and Technical Analysis for May 02, 2024, by Chris Lewis for FX Empire
- USD/JPY Daily Forecast and Technical Analysis for May 01, 2024, by Chris Lewis for FX Empire
- USD/JPY Forecast and Technical Analysis, April 30, 2024, by Chris Lewis #fxempire #trading #USDJPY
- USD/JPY Forecast May 1, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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