USD/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	USDJPY
ISIN:

USD/JPY - Daily - Technical analysis published on 10/03/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Slightly bearish

Technical indicators

72%

22%

My opinion

Bullish above 143.50 JPY

My targets

150.17 JPY (+3.28)

155.06 JPY (+8.17)

My analysis

The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for USD/JPY as long as the price remains well above 143.50 JPY. The buyers' bullish objective is set at 150.17 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 155.06 JPY. If there is any crossing, the next objective would be the resistance located at 158.33 JPY. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 150.17 JPY. On this resistance, against the trend traders who would like to go short on USD/JPY with a bearish signal from their trading strategy, should not hesitate to act.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

2.5

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

USD/JPY rating 146.89 JPY. The price registered an increase of +0.21% on the session and was between 146.30 JPY and 147.24 JPY. This implies that the price is at +0.40% from its lowest and at -0.24% from its highest.

146.30

147.24

146.89

The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bearish opening

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of USD/JPY indicates that the overall trend is slightly bearish. Only 57.14% of the signals given by moving averages are bearish. This slightly bearish trend could quickly be reversed due to the strong bullish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Daily

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Daily

In fact, 13 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Near resistance of channel

Type : Bearish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	125.57	141.03	146.75	146.89	150.17	158.33	161.59
Change (%)	-14.51%	-3.99%	-0.10%	-	+2.23%	+7.79%	+10.01%
Change	-21.32	-5.86	-0.14	-	+3.28	+11.44	+14.70
Level	Major	Major	Major	-	Major	Minor	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	141.06	142.29	144.44	145.67	147.82	149.05	151.20
Camarilla	145.65	145.96	146.27	146.58	146.89	147.20	147.51
Woodie	141.51	142.52	144.89	145.90	148.27	149.28	151.65
Fibonacci	142.29	143.58	144.38	145.67	146.96	147.76	149.05

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	136.26	139.17	140.68	143.59	145.10	148.01	149.52
Camarilla	140.99	141.39	141.80	142.20	142.61	143.01	143.42
Woodie	135.57	138.82	139.99	143.24	144.41	147.66	148.83
Fibonacci	139.17	140.86	141.90	143.59	145.28	146.32	148.01

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	132.17	135.87	139.80	143.50	147.43	151.13	155.06
Camarilla	141.62	142.32	143.02	143.72	144.42	145.12	145.82
Woodie	132.28	135.93	139.91	143.56	147.54	151.19	155.17
Fibonacci	135.87	138.79	140.59	143.50	146.42	148.22	151.13

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):	59.18
MACD (12,26,9):	-0.0600
Directional Movement:	2.31
AROON (14):	92.86
DEMA (21):	143.72
Parabolic SAR (0,02-0,02-0,2):	141.76
Elder Ray (13):	2.46
Super Trend (3,10):	140.63
Zig ZAG (10):	146.88
VORTEX (21):	1.0800
Stochastique (14,3,5):	83.62
TEMA (21):	145.12
Williams %R (14):	-4.70
Chande Momentum Oscillator (20):	4.87
Repulse (5,40,3):	1.9500
ROCnROLL:	-1
TRIX (15,9):	-0.0700
Courbe Coppock:	3.68

MA7:	144.70
MA20:	143.22
MA50:	145.40
MA100:	151.68
MAexp7:	144.95
MAexp20:	144.21
MAexp50:	146.23
MAexp100:	148.83
Price / MA7:	+1.51%
Price / MA20:	+2.56%
Price / MA50:	+1.02%
Price / MA100:	-3.16%
Price / MAexp7:	+1.34%
Price / MAexp20:	+1.86%
Price / MAexp50:	+0.45%
Price / MAexp100:	-1.30%

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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