EUR/JPY - 1H - Technical analysis published on 05/12/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Strongly bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 116.10 JPY
My targets
116.52 JPY (+0.20)
117.19 JPY (+0.87)
My analysis
The basic bullish trend is very strong on EUR/JPY but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 116.10 JPY. Crossing the first resistance at 116.52 JPY would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 117.19 JPY as an objective. Crossing it would then enable buyers to target 117.46 JPY. Caution, a return to below 116.10 JPY would be a sign of a consolidation phase in the short-term basic trend. 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
0
10
7
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This analysis was given by dgoullet. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/JPY rating 116.32 JPY. The price registered an increase of +0.02% on the session and was traded between 115.96 JPY and 116.48 JPY over the period. The price is currently at +0.31% from its lowest and -0.14% from its highest.115.96
116.48
116.32
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of EUR/JPY indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 114.77 | 115.28 | 116.10 | 116.32 | 116.52 | 117.19 | 117.46 |
| Change (%) | -1.33% | -0.89% | -0.19% | - | +0.17% | +0.75% | +0.98% |
| Change | -1.55 | -1.04 | -0.22 | - | +0.20 | +0.87 | +1.14 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | Major | Minor |
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 | 114.31 | 114.79 | 115.55 | 116.03 | 116.79 | 117.27 | 118.03 |
| Camarilla | 115.96 | 116.07 | 116.19 | 116.30 | 116.41 | 116.53 | 116.64 |
| Woodie | 114.44 | 114.86 | 115.68 | 116.10 | 116.92 | 117.34 | 118.16 |
| Fibonacci | 114.79 | 115.27 | 115.56 | 116.03 | 116.51 | 116.80 | 117.27 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 111.28 | 112.85 | 114.25 | 115.82 | 117.22 | 118.79 | 120.19 |
| Camarilla | 114.82 | 115.10 | 115.37 | 115.64 | 115.91 | 116.18 | 116.46 |
| Woodie | 111.19 | 112.81 | 114.16 | 115.78 | 117.13 | 118.75 | 120.10 |
| Fibonacci | 112.85 | 113.99 | 114.69 | 115.82 | 116.96 | 117.66 | 118.79 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 111.98 | 113.72 | 115.57 | 117.31 | 119.16 | 120.90 | 122.75 |
| Camarilla | 116.44 | 116.77 | 117.10 | 117.43 | 117.76 | 118.09 | 118.42 |
| Woodie | 112.05 | 113.75 | 115.64 | 117.34 | 119.23 | 120.93 | 122.82 |
| Fibonacci | 113.72 | 115.09 | 115.94 | 117.31 | 118.68 | 119.53 | 120.90 |
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): | 56.01 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 7.32 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 116.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 116.03 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 115.91 | |
| Zig ZAG (10): | 116.37 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 73.86 | |
| TEMA (21): | 116.28 | |
| Williams %R (14): | -23.08 | |
| Chande Momentum Oscillator (20): | -0.01 | |
| Repulse (5,40,3): | 0.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.20 |
| MA7: | 115.71 | |
| MA20: | 116.34 | |
| MA50: | 117.72 | |
| MA100: | 119.26 | |
| MAexp7: | 116.29 | |
| MAexp20: | 116.23 | |
| MAexp50: | 116.02 | |
| MAexp100: | 115.85 | |
| Price / MA7: | +0.53% | |
| Price / MA20: | -0.02% | |
| Price / MA50: | -1.19% | |
| Price / MA100: | -2.47% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.08% | |
| Price / MAexp50: | +0.26% | |
| Price / MAexp100: | +0.41% |
News
Don"t forget to follow the news on EUR/JPY. At the time of publication of this analysis, the latest news was as follows:
-
EURJPY Drops to 3-Year Low as EU Recession Weighs, BOE Ahead
-
Weekly Technical Analysis: 24/02/2020 - USDJPY, EURJPY, USDCAD
-
Weekly Technical Analysis: 04/11/2019 - GBPUSD, EURJPY, NZDUSD
-
FX Price Action Setups in EUR/USD, USD/CAD, EUR/JPY and GBP/JPY
-
Weekly Technical Analysis: 08/07/2019 - EURJPY, GBPUSD, NZDUSD
This member declared not having a position on this financial instrument or a related financial instrument.
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