USD/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	USDJPY
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USD/JPY - 1H - Technical analysis published on 07/05/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Bearish

Technical indicators

44%

17%

39%

My opinion

Bearish under 161.74 JPY

My targets

160.27 JPY (-0.87)

159.77 JPY (-1.37)

My analysis

The basic trend is bearish on USD/JPY and in the short term, the price is trying to rebound. For the time being, this is only a technical rebound and the basic trend is not threatened. To have the rebound confirmed, it would have at least to go back above the 161.74 JPY. Buyers would then use the next resistance located at 161.97 JPY as an objective. The next bearish objectives would be 159.77 JPY and 159.19 JPY by extension.

In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.

Force

1.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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 161.14 JPY. The price registered a decrease of -0.14% on the session and was between 160.34 JPY and 161.40 JPY. This implies that the price is at +0.50% from its lowest and at -0.16% from its highest.

160.34

161.40

161.14

Here is a more detailed summary of the historical variations registered by USD/JPY:

The study of the highest / lowest by the Central Records scanner shows the following results:

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 bearish. 71.43% of the signals given by moving averages are bearish. Caution: the slightly bullish signals currently being given by short-term moving averages indicate that this bearish trend may be slowing down. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

An assessment of technical indicators shows a slightly bullish signal.
The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is under support 1

Type : Neutral

Timeframe : 1 hour

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

From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:

Bearish harami

Type : Bearish

Timeframe : 1 hour

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	159.19	159.77	160.27	161.14	161.28	161.74	161.97
Change (%)	-1.21%	-0.85%	-0.54%	-	+0.09%	+0.37%	+0.52%
Change	-1.95	-1.37	-0.87	-	+0.14	+0.60	+0.83
Level	Minor	Minor	Intermediate	-	Major	Intermediate	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	160.33	160.63	161.00	161.30	161.67	161.97	162.34
Camarilla	161.18	161.24	161.30	161.36	161.42	161.48	161.54
Woodie	160.36	160.65	161.03	161.32	161.70	161.99	162.37
Fibonacci	160.63	160.89	161.05	161.30	161.56	161.72	161.97

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 the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	48.31
MACD (12,26,9):	-0.1100
Directional Movement:	-20.98
AROON (14):	-92.86
DEMA (21):	160.76
Parabolic SAR (0,02-0,02-0,2):	160.34
Elder Ray (13):	0.04
Super Trend (3,10):	161.22
Zig ZAG (10):	160.91
VORTEX (21):	0.9300
Stochastique (14,3,5):	49.16
TEMA (21):	160.76
Williams %R (14):	-43.40
Chande Momentum Oscillator (20):	-0.07
Repulse (5,40,3):	0.2100
ROCnROLL:	-1
TRIX (15,9):	-0.0100
Courbe Coppock:	0.47

MA7:	161.21
MA20:	159.31
MA50:	157.30
MA100:	154.35
MAexp7:	160.85
MAexp20:	160.94
MAexp50:	161.13
MAexp100:	161.16
Price / MA7:	-0.04%
Price / MA20:	+1.15%
Price / MA50:	+2.44%
Price / MA100:	+4.40%
Price / MAexp7:	+0.18%
Price / MAexp20:	+0.12%
Price / MAexp50:	+0.01%
Price / MAexp100:	-0.01%

Quotes : - Real time data - Forex

News

The latest news and videos published on USD/JPY at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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