EUR/JPY - 1H - Technical analysis published on 04/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
50%
11%
39%
My opinion
Bullish above 164.13 JPY
My targets
164.69 JPY (+0.34)
165.18 JPY (+0.83)
My analysis
The basic bullish trend is very strong on EUR/JPY but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 164.13 JPY. Crossing the first resistance at 164.69 JPY would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 165.18 JPY as an objective. Crossing it would then enable buyers to target 169.54 JPY. Caution, a return to below 164.13 JPY would be a sign of a consolidation phase in the short-term basic trend. 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
6.6
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Additional analysis
Quotes
EUR/JPY rating 164.35 JPY. On the day, this instrument gained +0.03% and was traded between 163.93 JPY and 164.49 JPY over the period. The price is currently at +0.26% from its lowest and -0.09% from its highest.163.93
164.49
164.35
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 strongly bullish trend. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
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 | 163.69 | 163.91 | 164.13 | 164.35 | 164.44 | 164.69 | 165.18 |
Change (%) | -0.40% | -0.27% | -0.13% | - | +0.05% | +0.21% | +0.51% |
Change | -0.66 | -0.44 | -0.22 | - | +0.09 | +0.34 | +0.83 |
Level | Minor | Major | Major | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 162.76 | 163.22 | 163.76 | 164.22 | 164.76 | 165.22 | 165.76 |
Camarilla | 164.03 | 164.12 | 164.21 | 164.30 | 164.39 | 164.48 | 164.58 |
Woodie | 162.80 | 163.24 | 163.80 | 164.24 | 164.80 | 165.24 | 165.80 |
Fibonacci | 163.22 | 163.60 | 163.84 | 164.22 | 164.60 | 164.84 | 165.22 |
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): | 54.03 | |
MACD (12,26,9): | 0.0600 | |
Directional Movement: | -11.78 | |
AROON (14): | -28.57 | |
DEMA (21): | 164.35 | |
Parabolic SAR (0,02-0,02-0,2): | 164.46 | |
Elder Ray (13): | -0.03 | |
Super Trend (3,10): | 163.97 | |
Zig ZAG (10): | 164.32 | |
VORTEX (21): | 0.9900 | |
Stochastique (14,3,5): | 48.80 | |
TEMA (21): | 164.33 | |
Williams %R (14): | -28.57 | |
Chande Momentum Oscillator (20): | 0.07 | |
Repulse (5,40,3): | 0.1200 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0100 | |
Courbe Coppock: | 0.02 |
MA7: | 164.14 | |
MA20: | 163.96 | |
MA50: | 162.91 | |
MA100: | 160.75 | |
MAexp7: | 164.29 | |
MAexp20: | 164.26 | |
MAexp50: | 164.13 | |
MAexp100: | 164.08 | |
Price / MA7: | +0.13% | |
Price / MA20: | +0.24% | |
Price / MA50: | +0.88% | |
Price / MA100: | +2.24% | |
Price / MAexp7: | +0.04% | |
Price / MAexp20: | +0.05% | |
Price / MAexp50: | +0.13% | |
Price / MAexp100: | +0.16% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on EUR/JPY at the time of the analysis were 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.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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