USD/JPY - 1H - Technical analysis published on 10/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
39%
28%
33%
My opinion
Bullish above 147.43 JPY
My targets
149.37 JPY (+0.56)
150.17 JPY (+1.36)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on USD/JPY. As long as you are above the support located at 147.43 JPY, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 149.37 JPY would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 150.17 JPY as an objective. Crossing it would then enable buyers to target 155.12 JPY. If the support 147.43 JPY were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
2.9
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Additional analysis
Quotes
The USD/JPY price is 148.81 JPY. The price registered a decrease of -0.24% on the session and was between 148.25 JPY and 149.58 JPY. This implies that the price is at +0.38% from its lowest and at -0.51% from its highest.148.25
149.58
148.81
Here is a more detailed summary of the historical variations registered by USD/JPY:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/JPY chart shows a bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral 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 : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Other results related to technical indicators were also found by the Central Indicators scanner:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
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
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 | 144.74 | 146.75 | 148.68 | 148.81 | 149.37 | 150.17 | 155.12 |
| Change (%) | -2.74% | -1.38% | -0.09% | - | +0.38% | +0.91% | +4.24% |
| Change | -4.07 | -2.06 | -0.13 | - | +0.56 | +1.36 | +6.31 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Major | 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 | 146.96 | 147.49 | 148.32 | 148.85 | 149.68 | 150.21 | 151.04 |
| Camarilla | 148.79 | 148.91 | 149.04 | 149.16 | 149.29 | 149.41 | 149.53 |
| Woodie | 147.12 | 147.57 | 148.48 | 148.93 | 149.84 | 150.29 | 151.20 |
| Fibonacci | 147.49 | 148.01 | 148.33 | 148.85 | 149.37 | 149.69 | 150.21 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 136.56 | 139.10 | 143.91 | 146.45 | 151.26 | 153.80 | 158.61 |
| Camarilla | 146.69 | 147.36 | 148.04 | 148.71 | 149.38 | 150.06 | 150.73 |
| Woodie | 137.69 | 139.67 | 145.04 | 147.02 | 152.39 | 154.37 | 159.74 |
| Fibonacci | 139.10 | 141.91 | 143.65 | 146.45 | 149.26 | 151.00 | 153.80 |
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 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): | 48.56 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -2.01 | |
| AROON (14): | 0 | |
| DEMA (21): | 148.88 | |
| Parabolic SAR (0,02-0,02-0,2): | 148.33 | |
| Elder Ray (13): | 0.09 | |
| Super Trend (3,10): | 149.58 | |
| Zig ZAG (10): | 148.88 | |
| VORTEX (21): | 0.9300 | |
| Stochastique (14,3,5): | 40.60 | |
| TEMA (21): | 148.73 | |
| Williams %R (14): | -53.38 | |
| Chande Momentum Oscillator (20): | -0.38 | |
| Repulse (5,40,3): | 0.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.59 |
| MA7: | 148.06 | |
| MA20: | 144.78 | |
| MA50: | 145.08 | |
| MA100: | 151.29 | |
| MAexp7: | 148.81 | |
| MAexp20: | 148.90 | |
| MAexp50: | 148.76 | |
| MAexp100: | 148.26 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | +2.78% | |
| Price / MA50: | +2.57% | |
| Price / MA100: | -1.64% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | -0.06% | |
| Price / MAexp50: | +0.03% | |
| Price / MAexp100: | +0.37% |
Quotes :
-
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 Continues to Show Strength: Forecast & Technical Analysis by Chris Lewis (October 09)
-
USD/JPY Continues to Reach Higher: Forecast & Technical Analysis by Chris Lewis (October 03)
-
USD/JPY Rallies but Gives Up Gains: Forecast & Technical Analysis by Chris Lewis (October 01)
-
USD/JPY Pulls Back from Crucial Level: Forecast & Technical Analysis by Chris Lewis (September 26)
-
USD/JPY Forecast September 25, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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