EUR/JPY - Daily - Technical analysis published on 06/05/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 122.83 JPY
My targets
125.20 JPY (+1.11)
129.36 JPY (+5.27)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on EUR/JPY as long as the price remains well above 122.83 JPY. The buyers” bullish objective is set at 125.20 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 129.36 JPY. If there is any crossing, the next objective would be the resistance located at 133.02 JPY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
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
7.7
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This analysis was given by Remo. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EUR/JPY price is 124.09 JPY. The price registered an increase of +0.29% on the session with the lowest point at 123.54 JPY and the highest point at 124.43 JPY. The deviation from the price is +0.45% for the low point and -0.27% for the high point.123.54
124.43
124.09
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 EUR/JPY in Daily shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 100
Type : Bullish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 80
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
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 | 119.65 | 121.32 | 122.83 | 124.09 | 125.20 | 129.36 | 133.02 |
| Change (%) | -3.58% | -2.23% | -1.02% | - | +0.89% | +4.25% | +7.20% |
| Change | -4.44 | -2.77 | -1.26 | - | +1.11 | +5.27 | +8.93 |
| Level | Intermediate | Intermediate | Intermediate | - | Major | Minor | 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 | 120.25 | 121.04 | 122.39 | 123.18 | 124.53 | 125.32 | 126.67 |
| Camarilla | 123.14 | 123.34 | 123.53 | 123.73 | 123.93 | 124.12 | 124.32 |
| Woodie | 120.52 | 121.18 | 122.66 | 123.32 | 124.80 | 125.46 | 126.94 |
| Fibonacci | 121.04 | 121.86 | 122.37 | 123.18 | 124.00 | 124.51 | 125.32 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 115.10 | 116.09 | 117.92 | 118.91 | 120.74 | 121.73 | 123.56 |
| Camarilla | 118.97 | 119.23 | 119.49 | 119.75 | 120.01 | 120.27 | 120.53 |
| Woodie | 115.52 | 116.30 | 118.34 | 119.12 | 121.16 | 121.94 | 123.98 |
| Fibonacci | 116.09 | 117.17 | 117.83 | 118.91 | 119.99 | 120.65 | 121.73 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 110.68 | 112.56 | 116.15 | 118.03 | 121.62 | 123.50 | 127.09 |
| Camarilla | 118.25 | 118.75 | 119.25 | 119.75 | 120.25 | 120.75 | 121.25 |
| Woodie | 111.55 | 112.99 | 117.02 | 118.46 | 122.49 | 123.93 | 127.96 |
| Fibonacci | 112.56 | 114.65 | 115.94 | 118.03 | 120.12 | 121.41 | 123.50 |
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): | 81.41 | |
| MACD (12,26,9): | 1.5700 | |
| Directional Movement: | 36.15 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 121.23 | |
| Parabolic SAR (0,02-0,02-0,2): | 120.11 | |
| Elder Ray (13): | 3.52 | |
| Super Trend (3,10): | 120.56 | |
| Zig ZAG (10): | 124.00 | |
| VORTEX (21): | 1.4100 | |
| Stochastique (14,3,5): | 96.32 | |
| TEMA (21): | 122.73 | |
| Williams %R (14): | -5.91 | |
| Chande Momentum Oscillator (20): | 5.84 | |
| Repulse (5,40,3): | 2.5100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1000 | |
| Courbe Coppock: | 8.60 |
| MA7: | 121.51 | |
| MA20: | 118.67 | |
| MA50: | 117.68 | |
| MA100: | 118.75 | |
| MAexp7: | 121.86 | |
| MAexp20: | 119.54 | |
| MAexp50: | 118.50 | |
| MAexp100: | 118.73 | |
| Price / MA7: | +2.12% | |
| Price / MA20: | +4.57% | |
| Price / MA50: | +5.45% | |
| Price / MA100: | +4.50% | |
| Price / MAexp7: | +1.83% | |
| Price / MAexp20: | +3.81% | |
| Price / MAexp50: | +4.72% | |
| Price / MAexp100: | +4.51% |
Quotes :
2020-06-05 13:33:10
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Real time data
-
Forex
News
The latest news and videos published on EUR/JPY at the time of the analysis were as follows:
-
EURUSD Ready for ECB and NFPs, EURJPY and Dow Rally as Risk Drives
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EURJPY Drops to 3-Year Low as EU Recession Weighs, BOE Ahead
-
Weekly Technical Analysis: 24/02/2020 - USDJPY, EURJPY, USDCAD
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Weekly Technical Analysis: 04/11/2019 - GBPUSD, EURJPY, NZDUSD
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FX Price Action Setups in EUR/USD, USD/CAD, EUR/JPY and GBP/JPY
This member declared not having a position on this financial instrument or a related financial instrument.
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