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 05/17/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 197.08 JPY

My targets

200.08 JPY (+2.41)

201.74 JPY (+4.07)

My analysis

The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 197.08 JPY, you could try to benefit from the boom. The first bullish objective is located at 200.08 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 201.74 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.

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

8.8

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 197.67 JPY. On the day, this instrument gained +0.39% and was between 196.79 JPY and 197.68 JPY. This implies that the price is at +0.45% from its lowest and at -0.01% from its highest.

196.79

197.68

197.67

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 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. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour

RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

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

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	195.83	196.21	197.08	197.67	197.81	215.53
Change (%)	-0.93%	-0.74%	-0.30%	-	+0.07%	+9.04%
Change	-1.84	-1.46	-0.59	-	+0.14	+17.86
Level	Minor	Minor	Intermediate	-	Intermediate	Intermediate

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	193.73	194.38	195.65	196.30	197.57	198.22	199.49
Camarilla	196.38	196.56	196.73	196.91	197.09	197.26	197.44
Woodie	194.03	194.54	195.95	196.46	197.87	198.38	199.79
Fibonacci	194.38	195.12	195.57	196.30	197.04	197.49	198.22

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):	69.53
MACD (12,26,9):	0.2400
Directional Movement:	17.10
AROON (14):	71.43
DEMA (21):	197.49
Parabolic SAR (0,02-0,02-0,2):	197.15
Elder Ray (13):	0.31
Super Trend (3,10):	196.95
Zig ZAG (10):	197.59
VORTEX (21):	1.1700
Stochastique (14,3,5):	89.47
TEMA (21):	197.56
Williams %R (14):	-9.52
Chande Momentum Oscillator (20):	0.45
Repulse (5,40,3):	0.1700
ROCnROLL:	1
TRIX (15,9):	0.0200
Courbe Coppock:	0.32

MA7:	196.17
MA20:	194.85
MA50:	192.59
MA100:	190.06
MAexp7:	197.42
MAexp20:	197.18
MAexp50:	196.82
MAexp100:	196.40
Price / MA7:	+0.76%
Price / MA20:	+1.45%
Price / MA50:	+2.64%
Price / MA100:	+4.00%
Price / MAexp7:	+0.13%
Price / MAexp20:	+0.25%
Price / MAexp50:	+0.43%
Price / MAexp100:	+0.65%

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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