USD/JPY - 1H - Technical analysis published on 07/02/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
67%
0%
33%
My opinion
Bullish above 160.86 JPY
My targets
161.84 JPY (+0.14)
162.83 JPY (+1.13)
My analysis
The bullish trend is currently very strong on USD/JPY. As long as the price remains above the support at 160.86 JPY, you could try to benefit from the boom. The first bullish objective is located at 161.84 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 162.83 JPY as an objective. Crossing it would then enable buyers to target 164.37 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, 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
8.2
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Additional analysis
Quotes
The USD/JPY price is 161.70 JPY. The price has increased by +0.12% since the last closing with the lowest point at 161.46 JPY and the highest point at 161.75 JPY. The deviation from the price is +0.15% for the low point and -0.03% for the high point.161.46
161.75
161.70
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
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 USD/JPY in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
MACD indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
RSI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 159.19 | 160.27 | 160.86 | 161.70 | 161.73 |
| Change (%) | -1.55% | -0.88% | -0.52% | - | +0.02% |
| Change | -2.51 | -1.43 | -0.84 | - | +0.03 |
| Level | Minor | Intermediate | Intermediate | - | 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 | 159.73 | 160.18 | 160.84 | 161.29 | 161.95 | 162.40 | 163.06 |
| Camarilla | 161.21 | 161.31 | 161.41 | 161.51 | 161.61 | 161.71 | 161.82 |
| Woodie | 159.85 | 160.23 | 160.96 | 161.34 | 162.07 | 162.45 | 163.18 |
| Fibonacci | 160.18 | 160.60 | 160.86 | 161.29 | 161.71 | 161.97 | 162.40 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 156.78 | 157.77 | 159.31 | 160.30 | 161.84 | 162.83 | 164.37 |
| Camarilla | 160.16 | 160.40 | 160.63 | 160.86 | 161.09 | 161.32 | 161.56 |
| Woodie | 157.07 | 157.91 | 159.60 | 160.44 | 162.13 | 162.97 | 164.66 |
| Fibonacci | 157.77 | 158.73 | 159.33 | 160.30 | 161.26 | 161.86 | 162.83 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 149.78 | 152.17 | 156.51 | 158.90 | 163.24 | 165.63 | 169.97 |
| Camarilla | 159.01 | 159.63 | 160.24 | 160.86 | 161.48 | 162.09 | 162.71 |
| Woodie | 150.77 | 152.66 | 157.50 | 159.39 | 164.23 | 166.12 | 170.96 |
| Fibonacci | 152.17 | 154.74 | 156.33 | 158.90 | 161.47 | 163.06 | 165.63 |
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): | 69.15 | |
| MACD (12,26,9): | 0.1600 | |
| Directional Movement: | 9.03 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 161.70 | |
| Parabolic SAR (0,02-0,02-0,2): | 161.56 | |
| Elder Ray (13): | 0.12 | |
| Super Trend (3,10): | 161.24 | |
| Zig ZAG (10): | 161.67 | |
| VORTEX (21): | 1.2100 | |
| Stochastique (14,3,5): | 82.86 | |
| TEMA (21): | 161.73 | |
| Williams %R (14): | -17.14 | |
| Chande Momentum Oscillator (20): | 0.17 | |
| Repulse (5,40,3): | 0.0300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.25 |
| MA7: | 160.69 | |
| MA20: | 158.55 | |
| MA50: | 157.01 | |
| MA100: | 154.02 | |
| MAexp7: | 161.62 | |
| MAexp20: | 161.49 | |
| MAexp50: | 161.21 | |
| MAexp100: | 160.81 | |
| Price / MA7: | +0.63% | |
| Price / MA20: | +1.99% | |
| Price / MA50: | +2.99% | |
| Price / MA100: | +4.99% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.13% | |
| Price / MAexp50: | +0.30% | |
| Price / MAexp100: | +0.55% |
Quotes :
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Real time data
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Forex
News
The last news published on USD/JPY at the time of the generation of this analysis was as follows:
-
USD/JPY Daily Forecast and Technical Analysis for July 01, 2024, by Chris Lewis for FX Empire
-
USD/JPY Long Term Forecast and Technical Analysis for June 28, 2024, by Chris Lewis for FX Empire
-
USD/JPY Daily Forecast and Technical Analysis for June 28, 2024, by Chris Lewis for FX Empire
-
USD/JPY Forecast June 28, 2024
-
USD/JPY Daily Forecast and Technical Analysis for June 27, 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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