USD/JPY - 1H - Technical analysis published on 09/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 141.77 JPY
My targets
143.05 JPY (+0.76)
143.79 JPY (+1.50)
My analysis
USD/JPY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 141.77 JPY. The next resistance located at 143.05 JPY is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 143.79 JPY. After this resistance, buyers could then target 146.75 JPY.
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
7.1
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Additional analysis
Quotes
The USD/JPY rating is 142.29 JPY. On the day, this instrument gained +1.06% and was traded between 140.32 JPY and 142.30 JPY over the period. The price is currently at +1.40% from its lowest and -0.01% from its highest.140.32
142.30
142.29
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of USD/JPY in 1H shows an overall bullish trend. The signals returned by the moving averages are 78.57% bullish. This bullish trend is reinforced by the strong signals currently being 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 bullish, suggesting that the price increase should continue.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 140.28 | 141.03 | 141.77 | 142.29 | 143.05 | 143.79 | 146.75 |
| Change (%) | -1.41% | -0.89% | -0.37% | - | +0.53% | +1.05% | +3.13% |
| Change | -2.01 | -1.26 | -0.52 | - | +0.76 | +1.50 | +4.46 |
| Level | Minor | Major | Intermediate | - | Intermediate | Minor | 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 | 138.18 | 138.88 | 139.84 | 140.54 | 141.50 | 142.20 | 143.16 |
| Camarilla | 140.34 | 140.50 | 140.65 | 140.80 | 140.95 | 141.10 | 141.26 |
| Woodie | 138.31 | 138.95 | 139.97 | 140.61 | 141.63 | 142.27 | 143.29 |
| Fibonacci | 138.88 | 139.51 | 139.91 | 140.54 | 141.17 | 141.57 | 142.20 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 135.95 | 138.12 | 139.47 | 141.64 | 142.99 | 145.16 | 146.51 |
| Camarilla | 139.86 | 140.19 | 140.51 | 140.83 | 141.15 | 141.48 | 141.80 |
| Woodie | 135.55 | 137.92 | 139.07 | 141.44 | 142.59 | 144.96 | 146.11 |
| Fibonacci | 138.12 | 139.46 | 140.29 | 141.64 | 142.98 | 143.81 | 145.16 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 132.42 | 137.05 | 141.62 | 146.25 | 150.82 | 155.45 | 160.02 |
| Camarilla | 143.65 | 144.49 | 145.34 | 146.18 | 147.02 | 147.87 | 148.71 |
| Woodie | 132.38 | 137.04 | 141.58 | 146.24 | 150.78 | 155.44 | 159.98 |
| Fibonacci | 137.05 | 140.57 | 142.74 | 146.25 | 149.77 | 151.94 | 155.45 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 77.50 | |
| MACD (12,26,9): | 0.3600 | |
| Directional Movement: | 25.44 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 141.67 | |
| Parabolic SAR (0,02-0,02-0,2): | 140.93 | |
| Elder Ray (13): | 0.57 | |
| Super Trend (3,10): | 141.03 | |
| Zig ZAG (10): | 142.23 | |
| VORTEX (21): | 1.1700 | |
| Stochastique (14,3,5): | 92.78 | |
| TEMA (21): | 141.98 | |
| Williams %R (14): | -3.08 | |
| Chande Momentum Oscillator (20): | 1.63 | |
| Repulse (5,40,3): | 0.4100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 1.59 |
| MA7: | 141.92 | |
| MA20: | 143.72 | |
| MA50: | 148.53 | |
| MA100: | 152.99 | |
| MAexp7: | 141.75 | |
| MAexp20: | 141.25 | |
| MAexp50: | 141.01 | |
| MAexp100: | 141.27 | |
| Price / MA7: | +0.26% | |
| Price / MA20: | -0.99% | |
| Price / MA50: | -4.20% | |
| Price / MA100: | -6.99% | |
| Price / MAexp7: | +0.38% | |
| Price / MAexp20: | +0.74% | |
| Price / MAexp50: | +0.91% | |
| Price / MAexp100: | +0.72% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/JPY at the time of the analysis were as follows:
-
USD/JPY Forecast September 16, 2024
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USD/JPY Continues to Test Trendlines: Long Term Forecast by Chris Lewis (September 13)
-
Dollar Stabilizes Against the Yen: USD/JPY Forecast & Technical Analysis for by Chris Lewis (09/12)
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USD/JPY Continues to See Pressures: Forecast & Technical Analysis by Chris Lewis (September 11)
-
USD/JPY Continues to Consolidate: Forecast & Technical Analysis by Chris Lewis (August 21)
This member declared not having a position on this financial instrument or a related financial instrument.
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