GBP/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	GBPJPY
ISIN:

GBP/JPY - 1H - Technical analysis published on 05/15/2024 (GMT)

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

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

11%

50%

39%

My opinion

Bearish under 197.04 JPY

My targets

195.83 JPY (-0.55)

194.76 JPY (-1.62)

My analysis

The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for GBP/JPY as long as the price remains well below 197.04 JPY. The next bearish objective for sellers is set at 195.83 JPY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 194.76 JPY. In case of crossing, the next objective would be the support located at 192.92 JPY. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 195.83 JPY. With this support, against the trend traders who want to buy GBP/JPY on a buy signal from their trading strategy should not hesitate to act.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

1.6

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 196.38 JPY. On the day, this instrument lost -0.29% and was between 196.13 JPY and 197.09 JPY. This implies that the price is at +0.13% from its lowest and at -0.36% from its highest.

196.13

197.09

196.38

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

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:

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

Technical analysis of GBP/JPY in 1H shows an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. An assessment of moving averages reveals a bearish signal that could impact this trend:

Moving Average bearish crossovers : AMA20 & AMA50

Type : Bearish

Timeframe : 1 hour

The probability of a further decline is low given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Previous candle closed under Bollinger bands

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

MACD indicator is back under 0

Type : Bearish

Timeframe : 1 hour

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near horizontal support

Type : Bullish

Timeframe : 1 hour

Support of channel is broken

Type : Bearish

Timeframe : 1 hour

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	192.92	194.76	195.83	196.38	197.04	197.81	215.53
Change (%)	-1.76%	-0.82%	-0.28%	-	+0.34%	+0.73%	+9.75%
Change	-3.46	-1.62	-0.55	-	+0.66	+1.43	+19.15
Level	Intermediate	Intermediate	Intermediate	-	Intermediate	Intermediate	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	194.76	195.24	196.10	196.58	197.44	197.92	198.78
Camarilla	196.59	196.71	196.84	196.96	197.08	197.21	197.33
Woodie	194.95	195.34	196.29	196.68	197.63	198.02	198.97
Fibonacci	195.24	195.75	196.07	196.58	197.09	197.41	197.92

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	189.10	190.39	192.76	194.05	196.42	197.71	200.08
Camarilla	194.11	194.45	194.79	195.12	195.46	195.79	196.13
Woodie	189.63	190.66	193.29	194.32	196.95	197.98	200.61
Fibonacci	190.39	191.79	192.66	194.05	195.45	196.32	197.71

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	180.56	185.27	191.15	195.86	201.74	206.45	212.33
Camarilla	194.11	195.08	196.05	197.02	197.99	198.96	199.93
Woodie	181.14	185.56	191.73	196.15	202.32	206.74	212.91
Fibonacci	185.27	189.32	191.82	195.86	199.91	202.41	206.45

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):	40.77
MACD (12,26,9):	-0.0100
Directional Movement:	-12.50
AROON (14):	-42.86
DEMA (21):	196.72
Parabolic SAR (0,02-0,02-0,2):	196.90
Elder Ray (13):	-0.37
Super Trend (3,10):	197.08
Zig ZAG (10):	196.28
VORTEX (21):	0.9000
Stochastique (14,3,5):	32.64
TEMA (21):	196.51
Williams %R (14):	-85.42
Chande Momentum Oscillator (20):	-0.69
Repulse (5,40,3):	-0.1500
ROCnROLL:	-1
TRIX (15,9):	0.0100
Courbe Coppock:	0.40

MA7:	195.25
MA20:	194.33
MA50:	192.28
MA100:	189.73
MAexp7:	196.51
MAexp20:	196.66
MAexp50:	196.39
MAexp100:	195.85
Price / MA7:	+0.58%
Price / MA20:	+1.05%
Price / MA50:	+2.13%
Price / MA100:	+3.50%
Price / MAexp7:	-0.07%
Price / MAexp20:	-0.14%
Price / MAexp50:	-0.01%
Price / MAexp100:	+0.27%

Quotes : - Real time data - Forex

News

The latest news and videos published on GBP/JPY at the time of the analysis were as follows:

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

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