USD/JPY - 1H - Technical analysis published on 08/27/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
72%
6%
22%
My opinion
Bullish above 144.24 JPY
My targets
145.19 JPY (+0.20)
146.75 JPY (+1.76)
My analysis
The strong short-term increase in USD/JPY calls into question the currently slightly bearish basic trend. A trend reversal is likely. As long as the price remains above 144.24 JPY, you could consider taking advantage of the short-term movement. The first bullish objective is located at 145.19 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 146.75 JPY as an objective. Crossing it would then enable buyers to target 147.35 JPY. Caution, a return under 144.24 JPY could jeopardize the reversal.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
2.9
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This analysis was given by MarekP. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/JPY price is 144.99 JPY. The price registered an increase of +0.33% on the session and was between 144.46 JPY and 145.18 JPY. This implies that the price is at +0.37% from its lowest and at -0.13% from its highest.144.46
145.18
144.99
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
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 slightly bearish. 53.57% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators scanner detects bullish and bearish signals on moving averages that could impact this trend:
Moving Average bullish crossovers : MA20 & MA50
Type : Bullish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bearish divergence
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 141.03 | 143.44 | 144.24 | 144.99 | 145.19 | 146.75 | 147.35 |
| Change (%) | -2.73% | -1.07% | -0.52% | - | +0.14% | +1.21% | +1.63% |
| Change | -3.96 | -1.55 | -0.75 | - | +0.20 | +1.76 | +2.36 |
| Level | Major | Minor | Intermediate | - | Minor | 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 | 142.54 | 142.99 | 143.75 | 144.20 | 144.96 | 145.41 | 146.17 |
| Camarilla | 144.18 | 144.29 | 144.40 | 144.51 | 144.62 | 144.73 | 144.84 |
| Woodie | 142.70 | 143.07 | 143.91 | 144.28 | 145.12 | 145.49 | 146.33 |
| Fibonacci | 142.99 | 143.45 | 143.74 | 144.20 | 144.66 | 144.95 | 145.41 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 138.94 | 141.49 | 142.94 | 145.49 | 146.94 | 149.49 | 150.94 |
| Camarilla | 143.28 | 143.65 | 144.01 | 144.38 | 144.75 | 145.11 | 145.48 |
| Woodie | 138.38 | 141.22 | 142.38 | 145.22 | 146.38 | 149.22 | 150.38 |
| Fibonacci | 141.49 | 143.02 | 143.97 | 145.49 | 147.02 | 147.97 | 149.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 133.25 | 141.43 | 145.61 | 153.79 | 157.97 | 166.15 | 170.33 |
| Camarilla | 146.39 | 147.52 | 148.66 | 149.79 | 150.92 | 152.06 | 153.19 |
| Woodie | 131.25 | 140.43 | 143.61 | 152.79 | 155.97 | 165.15 | 168.33 |
| Fibonacci | 141.43 | 146.15 | 149.07 | 153.79 | 158.51 | 161.43 | 166.15 |
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): | 61.68 | |
| MACD (12,26,9): | 0.1400 | |
| Directional Movement: | 8.79 | |
| AROON (14): | 57.15 | |
| DEMA (21): | 144.80 | |
| Parabolic SAR (0,02-0,02-0,2): | 144.50 | |
| Elder Ray (13): | 0.28 | |
| Super Trend (3,10): | 144.23 | |
| Zig ZAG (10): | 144.98 | |
| VORTEX (21): | 1.1700 | |
| Stochastique (14,3,5): | 79.78 | |
| TEMA (21): | 145.01 | |
| Williams %R (14): | -25.53 | |
| Chande Momentum Oscillator (20): | 0.42 | |
| Repulse (5,40,3): | 0.0500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.60 |
| MA7: | 145.33 | |
| MA20: | 146.61 | |
| MA50: | 153.69 | |
| MA100: | 154.75 | |
| MAexp7: | 144.86 | |
| MAexp20: | 144.66 | |
| MAexp50: | 144.72 | |
| MAexp100: | 145.10 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | -1.10% | |
| Price / MA50: | -5.66% | |
| Price / MA100: | -6.31% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +0.23% | |
| Price / MAexp50: | +0.19% | |
| Price / MAexp100: | -0.08% |
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 Continues to Consolidate: Forecast & Technical Analysis by Chris Lewis (August 21)
-
USD/JPY Recovers a Bit Against The Yen: Long Term Forecast by Chris Lewis (August 16)
-
USD/JPY Pulls Back Against Yen: Forecast & Technical Analysis by Chris Lewis (August 16)
-
USD/JPY Explodes to the Upside: Forecast & Technical Analysis by Chris Lewis (August 15)
-
USD/JPY Continues to Test Resistance: Forecast & Technical Analysis by Chris Lewis (August 13)
This member declared not having a position on this financial instrument or a related financial instrument.
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