USD/JPY - 1H - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 155.96 JPY
My targets
154.70 JPY (-0.35)
154.00 JPY (-1.05)
My analysis
The bearish trend is currently very strong for USD/JPY. As long as the price remains below the resistance at 155.96 JPY, you could try to take advantage of the bearish rally. The first bearish objective is located at 154.70 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 154.00 JPY as an objective. Crossing it would then enable sellers to target 152.77 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.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/JPY rating is 155.05 JPY. On the day, this instrument lost -0.94% and was traded between 154.74 JPY and 156.56 JPY over the period. The price is currently at +0.20% from its lowest and -0.96% from its highest.154.74
156.56
155.05
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/JPY chart shows a sharp bearish trend. 82.14% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
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 : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 152.77 | 154.00 | 154.70 | 155.05 | 155.96 | 156.78 | 158.33 |
Change (%) | -1.47% | -0.68% | -0.23% | - | +0.59% | +1.12% | +2.12% |
Change | -2.28 | -1.05 | -0.35 | - | +0.91 | +1.73 | +3.28 |
Level | Minor | Intermediate | Minor | - | 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 | 155.69 | 155.96 | 156.24 | 156.51 | 156.79 | 157.06 | 157.34 |
Camarilla | 156.37 | 156.42 | 156.47 | 156.52 | 156.57 | 156.62 | 156.67 |
Woodie | 155.70 | 155.96 | 156.25 | 156.51 | 156.80 | 157.06 | 157.35 |
Fibonacci | 155.96 | 156.17 | 156.30 | 156.51 | 156.72 | 156.85 | 157.06 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 150.57 | 151.68 | 153.73 | 154.84 | 156.89 | 158.00 | 160.05 |
Camarilla | 154.90 | 155.19 | 155.48 | 155.77 | 156.06 | 156.35 | 156.64 |
Woodie | 151.03 | 151.92 | 154.19 | 155.08 | 157.35 | 158.24 | 160.51 |
Fibonacci | 151.68 | 152.89 | 153.64 | 154.84 | 156.05 | 156.80 | 158.00 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
RSI (14): | 30.99 | |
MACD (12,26,9): | -0.2800 | |
Directional Movement: | -37.21 | |
AROON (14): | -92.86 | |
DEMA (21): | 155.56 | |
Parabolic SAR (0,02-0,02-0,2): | 155.87 | |
Elder Ray (13): | -0.66 | |
Super Trend (3,10): | 156.03 | |
Zig ZAG (10): | 155.06 | |
VORTEX (21): | 0.7100 | |
Stochastique (14,3,5): | 35.32 | |
TEMA (21): | 155.31 | |
Williams %R (14): | -80.46 | |
Chande Momentum Oscillator (20): | -1.31 | |
Repulse (5,40,3): | -0.2200 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0100 | |
Courbe Coppock: | 1.20 |
MA7: | 155.59 | |
MA20: | 155.36 | |
MA50: | 152.73 | |
MA100: | 150.20 | |
MAexp7: | 155.47 | |
MAexp20: | 155.86 | |
MAexp50: | 156.04 | |
MAexp100: | 155.92 | |
Price / MA7: | -0.35% | |
Price / MA20: | -0.20% | |
Price / MA50: | +1.52% | |
Price / MA100: | +3.23% | |
Price / MAexp7: | -0.27% | |
Price / MAexp20: | -0.52% | |
Price / MAexp50: | -0.63% | |
Price / MAexp100: | -0.56% |
Quotes :
-
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 Daily Forecast and Technical Analysis for May 15, 2024, by Chris Lewis for FX Empire
- USD/JPY Daily Forecast and Technical Analysis for May 14, 2024, by Chris Lewis for FX Empire
- USD/JPY Forecast May 14, 2024
- USD/JPY Daily Forecast and Technical Analysis for May 13, 2024, by Chris Lewis for FX Empire
- USD/JPY Forecast May 13, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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