USD/JPY - 1H - Technical analysis published on 10/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 153.04 JPY
My targets
153.98 JPY (+0.63)
155.12 JPY (+1.77)
My analysis
The bullish trend is currently very strong on USD/JPY. As long as the price remains above the support at 153.04 JPY, you could try to benefit from the boom. The first bullish objective is located at 153.98 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 155.12 JPY as an objective. Crossing it would then enable buyers to target 158.33 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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
7.9
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Additional analysis
Quotes
The USD/JPY price is 153.35 JPY. The price has increased by +0.67% since the last closing and was between 152.67 JPY and 153.88 JPY. This implies that the price is at +0.45% from its lowest and at -0.34% from its highest.152.67
153.88
153.35
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
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 strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 2
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 which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 152.11 | 152.47 | 153.04 | 153.35 | 155.12 | 158.33 | 161.59 |
| Change (%) | -0.81% | -0.57% | -0.20% | - | +1.15% | +3.25% | +5.37% |
| Change | -1.24 | -0.88 | -0.31 | - | +1.77 | +4.98 | +8.24 |
| Level | Intermediate | Minor | Major | - | Minor | Intermediate | 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 | 150.80 | 151.12 | 151.73 | 152.05 | 152.66 | 152.98 | 153.59 |
| Camarilla | 152.07 | 152.16 | 152.25 | 152.33 | 152.42 | 152.50 | 152.59 |
| Woodie | 150.94 | 151.19 | 151.87 | 152.12 | 152.80 | 153.05 | 153.73 |
| Fibonacci | 151.12 | 151.48 | 151.70 | 152.05 | 152.41 | 152.63 | 152.98 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 145.78 | 147.44 | 149.88 | 151.54 | 153.98 | 155.64 | 158.08 |
| Camarilla | 151.20 | 151.58 | 151.95 | 152.33 | 152.71 | 153.08 | 153.46 |
| Woodie | 146.18 | 147.64 | 150.28 | 151.74 | 154.38 | 155.84 | 158.48 |
| Fibonacci | 147.44 | 149.00 | 149.97 | 151.54 | 153.10 | 154.07 | 155.64 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 65.04 | |
| MACD (12,26,9): | 0.3800 | |
| Directional Movement: | 13.62 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 153.50 | |
| Parabolic SAR (0,02-0,02-0,2): | 153.84 | |
| Elder Ray (13): | 0.15 | |
| Super Trend (3,10): | 152.65 | |
| Zig ZAG (10): | 153.36 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 70.61 | |
| TEMA (21): | 153.72 | |
| Williams %R (14): | -31.18 | |
| Chande Momentum Oscillator (20): | 1.02 | |
| Repulse (5,40,3): | -0.0500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 1.66 |
| MA7: | 151.64 | |
| MA20: | 149.46 | |
| MA50: | 146.01 | |
| MA100: | 150.58 | |
| MAexp7: | 153.37 | |
| MAexp20: | 153.01 | |
| MAexp50: | 152.52 | |
| MAexp100: | 152.02 | |
| Price / MA7: | +1.13% | |
| Price / MA20: | +2.60% | |
| Price / MA50: | +5.03% | |
| Price / MA100: | +1.84% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | +0.22% | |
| Price / MAexp50: | +0.54% | |
| Price / MAexp100: | +0.87% |
Quotes :
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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 Forecast October 18, 2024
-
USD/JPY Forecast October 16, 2024
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USD/JPY Forecast October 15, 2024
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USD/JPY Continues to Grind Higher for the Week: Long Term Forecast by Chris Lewis (October 11)
-
USD/JPY Continues to Show Strength: Forecast & Technical Analysis by Chris Lewis (October 09)
This member declared not having a position on this financial instrument or a related financial instrument.
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