GBP/JPY

- JPY (-)

- Real time data - Forex

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Change:	-
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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

17%

56%

28%

My opinion

Bearish under 197.04 JPY

My targets

195.83 JPY (-0.37)

194.76 JPY (-1.44)

My analysis

The strong short-term decline in GBP/JPY calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 197.04 JPY, one could consider taking advantage of the short-term movement. The first bearish objective is located at 195.83 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 194.76 JPY as an objective. Crossing it would then enable sellers to target 192.92 JPY. Be careful, a return to above 197.04 JPY could jeopardize the reversal.

In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.

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

GBP/JPY rating 196.20 JPY. The price is lower by -0.39% since the last closing and was traded between 195.88 JPY and 197.09 JPY over the period. The price is currently at +0.16% from its lowest and -0.45% from its highest.

195.88

197.09

196.20

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by GBP/JPY:

The study of the highest / lowest by the Central Records scanner shows the following results:

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 this 1H chart of GBP/JPY indicates that the overall trend is slightly bullish. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:

Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

No additional result has been identified by Central Indicators, the scanner specialised in technical indicators.

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

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	192.92	194.76	195.83	196.20	197.04	197.81	215.53
Change (%)	-1.67%	-0.73%	-0.19%	-	+0.43%	+0.82%	+9.85%
Change	-3.28	-1.44	-0.37	-	+0.84	+1.61	+19.33
Level	Intermediate	Intermediate	Intermediate	-	Intermediate	Intermediate	Intermediate

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

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 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):	41.98
MACD (12,26,9):	-0.0700
Directional Movement:	-17.96
AROON (14):	-71.43
DEMA (21):	196.53
Parabolic SAR (0,02-0,02-0,2):	196.63
Elder Ray (13):	-0.23
Super Trend (3,10):	197.07
Zig ZAG (10):	196.27
VORTEX (21):	0.8500
Stochastique (14,3,5):	44.35
TEMA (21):	196.32
Williams %R (14):	-69.42
Chande Momentum Oscillator (20):	-0.77
Repulse (5,40,3):	-0.0600
ROCnROLL:	2
TRIX (15,9):	0.0000
Courbe Coppock:	0.57

MA7:	195.25
MA20:	194.32
MA50:	192.28
MA100:	189.73
MAexp7:	196.40
MAexp20:	196.56
MAexp50:	196.38
MAexp100:	195.89
Price / MA7:	+0.49%
Price / MA20:	+0.97%
Price / MA50:	+2.04%
Price / MA100:	+3.41%
Price / MAexp7:	-0.10%
Price / MAexp20:	-0.18%
Price / MAexp50:	-0.09%
Price / MAexp100:	+0.16%

Quotes : - Real time data - Forex

News

Don't forget to follow the news on GBP/JPY. At the time of publication of this analysis, the latest news was as follows:

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

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