GBP/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	GBPJPY
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GBP/JPY - 1H - Technical analysis published on 04/26/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

67%

28%

My opinion

Bullish above 195.83 JPY

My targets

196.42 JPY (+0.21)

199.31 JPY (+3.10)

My analysis

The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 195.83 JPY, you could try to benefit from the boom. The first bullish objective is located at 196.42 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 199.31 JPY as an objective. Crossing it would then enable buyers to target 215.53 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

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 dtaccori. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The GBP/JPY rating is 196.21 JPY. On the day, this instrument gained +0.81% and was between 193.97 JPY and 196.42 JPY. This implies that the price is at +1.15% from its lowest and at -0.11% from its highest.

193.97

196.42

196.21

A study of price movements over other periods shows the following variations:

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

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of GBP/JPY indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, according to the parameters integrated into the Central Analyzer system, 12 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:

Bearish harami

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	193.61	194.95	195.83	196.21	215.53
Change (%)	-1.33%	-0.64%	-0.19%	-	+9.85%
Change	-2.60	-1.26	-0.38	-	+19.32
Level	Minor	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	192.24	192.85	193.74	194.35	195.24	195.85	196.74
Camarilla	194.23	194.37	194.50	194.64	194.78	194.92	195.05
Woodie	192.39	192.92	193.89	194.42	195.39	195.92	196.89
Fibonacci	192.85	193.42	193.77	194.35	194.92	195.27	195.85

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	187.55	188.93	190.09	191.47	192.63	194.01	195.17
Camarilla	190.56	190.79	191.03	191.26	191.49	191.73	191.96
Woodie	187.45	188.88	189.99	191.42	192.53	193.96	195.07
Fibonacci	188.93	189.90	190.50	191.47	192.44	193.04	194.01

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	182.57	185.26	188.15	190.84	193.73	196.42	199.31
Camarilla	189.50	190.01	190.52	191.03	191.54	192.05	192.57
Woodie	182.66	185.31	188.24	190.89	193.82	196.47	199.40
Fibonacci	185.26	187.40	188.71	190.84	192.98	194.29	196.42

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):	80.59
MACD (12,26,9):	0.5300
Directional Movement:	-9.63
AROON (14):	0
DEMA (21):	195.94
Parabolic SAR (0,02-0,02-0,2):	196.37
Elder Ray (13):	0.45
Super Trend (3,10):	194.87
Zig ZAG (10):	196.18
VORTEX (21):	1.2100
Stochastique (14,3,5):	89.80
TEMA (21):	196.10
Williams %R (14):	-10.61
Chande Momentum Oscillator (20):	1.54
Repulse (5,40,3):	0.4900
ROCnROLL:	1
TRIX (15,9):	0.0300
Courbe Coppock:	1.29

MA7:	193.10
MA20:	192.15
MA50:	191.06
MA100:	187.97
MAexp7:	195.90
MAexp20:	195.28
MAexp50:	194.42
MAexp100:	193.60
Price / MA7:	+1.61%
Price / MA20:	+2.11%
Price / MA50:	+2.70%
Price / MA100:	+4.38%
Price / MAexp7:	+0.16%
Price / MAexp20:	+0.48%
Price / MAexp50:	+0.92%
Price / MAexp100:	+1.35%

Quotes : - Real time data - Forex

News

The last news published on GBP/JPY at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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