USD/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	USDJPY
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USD/JPY - 1H - Technical analysis published on 04/24/2024 (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

78%

17%

My opinion

Bullish above 154.88 JPY

My targets

155.27 JPY (+0.16)

155.94 JPY (+0.83)

My analysis

The bullish trend is currently very strong on USD/JPY. As long as the price remains above the support at 154.88 JPY, you could try to benefit from the boom. The first bullish objective is located at 155.27 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 155.94 JPY as an objective. Crossing it would then enable buyers to target 157.08 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

8.4

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

USD/JPY rating 155.11 JPY. On the day, this instrument gained +0.23% and was traded between 154.74 JPY and 155.17 JPY over the period. The price is currently at +0.24% from its lowest and -0.04% from its highest.

154.74

155.17

155.11

So that you have an overall view of the price change, here is a table showing the variations over several periods:

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 USD/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.

In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. 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

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found this result concerning these indicators:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price
ProTrendLines	153.59	154.70	154.88	155.11
Change (%)	-0.98%	-0.26%	-0.15%	-
Change	-1.52	-0.41	-0.23	-
Level	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	154.24	154.40	154.57	154.73	154.90	155.06	155.23
Camarilla	154.66	154.69	154.72	154.75	154.78	154.81	154.84
Woodie	154.26	154.40	154.59	154.73	154.92	155.06	155.25
Fibonacci	154.40	154.52	154.60	154.73	154.85	154.93	155.06

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	151.65	152.32	153.46	154.13	155.27	155.94	157.08
Camarilla	154.11	154.28	154.44	154.61	154.78	154.94	155.11
Woodie	151.90	152.44	153.71	154.25	155.52	156.06	157.33
Fibonacci	152.32	153.01	153.44	154.13	154.82	155.25	155.94

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	142.37	144.43	147.86	149.92	153.35	155.41	158.84
Camarilla	149.79	150.29	150.80	151.30	151.80	152.31	152.81
Woodie	143.07	144.77	148.56	150.26	154.05	155.75	159.54
Fibonacci	144.43	146.52	147.82	149.92	152.01	153.31	155.41

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	78.57
MACD (12,26,9):	0.0600
Directional Movement:	14.87
AROON (14):	78.57
DEMA (21):	154.99
Parabolic SAR (0,02-0,02-0,2):	155.16
Elder Ray (13):	0.11
Super Trend (3,10):	154.69
Zig ZAG (10):	155.13
VORTEX (21):	1.1300
Stochastique (14,3,5):	67.77
TEMA (21):	155.02
Williams %R (14):	-10.00
Chande Momentum Oscillator (20):	0.28
Repulse (5,40,3):	0.1400
ROCnROLL:	1
TRIX (15,9):	0.0000
Courbe Coppock:	0.24

MA7:	154.70
MA20:	153.03
MA50:	151.13
MA100:	148.46
MAexp7:	154.99
MAexp20:	154.91
MAexp50:	154.82
MAexp100:	154.68
Price / MA7:	+0.27%
Price / MA20:	+1.36%
Price / MA50:	+2.63%
Price / MA100:	+4.48%
Price / MAexp7:	+0.08%
Price / MAexp20:	+0.14%
Price / MAexp50:	+0.19%
Price / MAexp100:	+0.28%

Quotes : - Real time data - Forex

News

The last news published on USD/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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