EUR/JPY - 1H - Technical analysis published on 04/16/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 163.91 JPY
My targets
164.44 JPY (+0.25)
165.18 JPY (+0.99)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on EUR/JPY as long as the price remains well above 163.91 JPY. The buyers' bullish objective is set at 164.44 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 165.18 JPY. If there is any crossing, the next objective would be the resistance located at 169.54 JPY. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
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
5.2
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/JPY price is 164.19 JPY. On the day, this instrument gained +0.21% and was between 163.68 JPY and 164.22 JPY. This implies that the price is at +0.31% from its lowest and at -0.02% from its highest.163.68
164.22
164.19
Here is a more detailed summary of the historical variations registered by EUR/JPY:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/JPY chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. This bullish trend shows slight signs of slowing down given the slightly bullish signals given by the short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 14 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Horizontal resistance 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 | 163.48 | 163.91 | 164.13 | 164.19 | 164.44 | 165.18 | 169.54 |
| Change (%) | -0.43% | -0.17% | -0.04% | - | +0.15% | +0.60% | +3.26% |
| Change | -0.71 | -0.28 | -0.06 | - | +0.25 | +0.99 | +5.35 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 161.15 | 161.92 | 162.89 | 163.66 | 164.63 | 165.40 | 166.37 |
| Camarilla | 163.37 | 163.53 | 163.69 | 163.85 | 164.01 | 164.17 | 164.33 |
| Woodie | 161.24 | 161.97 | 162.98 | 163.71 | 164.72 | 165.45 | 166.46 |
| Fibonacci | 161.92 | 162.59 | 163.00 | 163.66 | 164.33 | 164.74 | 165.40 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 158.93 | 160.60 | 161.84 | 163.51 | 164.75 | 166.42 | 167.66 |
| Camarilla | 162.28 | 162.55 | 162.81 | 163.08 | 163.35 | 163.61 | 163.88 |
| Woodie | 158.72 | 160.49 | 161.63 | 163.40 | 164.54 | 166.31 | 167.45 |
| Fibonacci | 160.60 | 161.71 | 162.40 | 163.51 | 164.62 | 165.31 | 166.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 155.37 | 157.79 | 160.54 | 162.96 | 165.71 | 168.13 | 170.88 |
| Camarilla | 161.87 | 162.34 | 162.82 | 163.29 | 163.76 | 164.24 | 164.71 |
| Woodie | 155.54 | 157.87 | 160.71 | 163.04 | 165.88 | 168.21 | 171.05 |
| Fibonacci | 157.79 | 159.77 | 160.99 | 162.96 | 164.94 | 166.16 | 168.13 |
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): | 62.28 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | 5.02 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 163.96 | |
| Parabolic SAR (0,02-0,02-0,2): | 164.20 | |
| Elder Ray (13): | 0.17 | |
| Super Trend (3,10): | 163.62 | |
| Zig ZAG (10): | 164.08 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 78.12 | |
| TEMA (21): | 163.98 | |
| Williams %R (14): | -6.38 | |
| Chande Momentum Oscillator (20): | 0.27 | |
| Repulse (5,40,3): | 0.1500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.02 |
| MA7: | 164.21 | |
| MA20: | 163.98 | |
| MA50: | 162.81 | |
| MA100: | 160.73 | |
| MAexp7: | 163.98 | |
| MAexp20: | 163.90 | |
| MAexp50: | 163.85 | |
| MAexp100: | 163.94 | |
| Price / MA7: | -0.01% | |
| Price / MA20: | +0.13% | |
| Price / MA50: | +0.85% | |
| Price / MA100: | +2.15% | |
| Price / MAexp7: | +0.13% | |
| Price / MAexp20: | +0.18% | |
| Price / MAexp50: | +0.21% | |
| Price / MAexp100: | +0.15% |
Quotes :
-
Real time data
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Forex
News
The last news published on EUR/JPY at the time of the generation of this analysis was as follows:
-
Technical Analysis: 02/04/2024 - EURJPY pulls back towards crucial trendline
-
EUR/JPY Forecast April 1, 2024
-
Technical Analysis: 27/03/2024 - Will EURJPY re-test the 16-year high soon?
-
Technical Analysis: 12/03/2024 - EURJPY drops below ascending channel
-
Technical Analysis: 05/03/2024 - EURJPY recovers from mild pullback
This member declared not having a position on this financial instrument or a related financial instrument.
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