EUR/JPY - 1H - Technical analysis published on 05/03/2024 (GMT)
- 79
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 164.90 JPY
My targets
163.08 JPY (-1.06)
161.02 JPY (-3.12)
My analysis
The bearish trend is currently very strong for EUR/JPY. As long as the price remains below the resistance at 164.90 JPY, you could try to take advantage of the bearish rally. The first bearish objective is located at 163.08 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 161.02 JPY as an objective. Crossing it would then enable sellers to target 159.67 JPY. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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, 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
0
10
7.3
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
The EUR/JPY price is 164.14 JPY. On the day, this instrument lost -0.11% with the lowest point at 164.02 JPY and the highest point at 164.64 JPY. The deviation from the price is +0.07% for the low point and -0.30% for the high point.164.02
164.64
164.14
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of EUR/JPY in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 10 technical indicators on 18 studied are currently positioned bearish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 159.67 | 163.08 | 164.13 | 164.14 | 164.90 | 165.68 | 167.40 |
| Change (%) | -2.72% | -0.65% | -0.01% | - | +0.46% | +0.94% | +1.99% |
| Change | -4.47 | -1.06 | -0.01 | - | +0.76 | +1.54 | +3.26 |
| Level | Minor | Minor | Major | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 159.78 | 161.91 | 163.12 | 165.25 | 166.46 | 168.59 | 169.80 |
| Camarilla | 163.40 | 163.71 | 164.01 | 164.32 | 164.63 | 164.93 | 165.24 |
| Woodie | 159.31 | 161.68 | 162.65 | 165.02 | 165.99 | 168.36 | 169.33 |
| Fibonacci | 161.91 | 163.19 | 163.98 | 165.25 | 166.53 | 167.32 | 168.59 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 161.02 | 162.71 | 166.02 | 167.71 | 171.02 | 172.71 | 176.02 |
| Camarilla | 167.96 | 168.41 | 168.87 | 169.33 | 169.79 | 170.25 | 170.71 |
| Woodie | 161.83 | 163.12 | 166.83 | 168.12 | 171.83 | 173.12 | 176.83 |
| Fibonacci | 162.71 | 164.62 | 165.80 | 167.71 | 169.62 | 170.80 | 172.71 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 153.81 | 158.04 | 163.16 | 167.39 | 172.51 | 176.74 | 181.86 |
| Camarilla | 165.71 | 166.57 | 167.42 | 168.28 | 169.14 | 169.99 | 170.85 |
| Woodie | 154.26 | 158.26 | 163.61 | 167.61 | 172.96 | 176.96 | 182.31 |
| Fibonacci | 158.04 | 161.61 | 163.82 | 167.39 | 170.96 | 173.17 | 176.74 |
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): | 29.89 | |
| MACD (12,26,9): | -0.7000 | |
| Directional Movement: | -21.71 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 164.05 | |
| Parabolic SAR (0,02-0,02-0,2): | 166.42 | |
| Elder Ray (13): | -0.47 | |
| Super Trend (3,10): | 165.47 | |
| Zig ZAG (10): | 164.16 | |
| VORTEX (21): | 0.7100 | |
| Stochastique (14,3,5): | 10.26 | |
| TEMA (21): | 163.91 | |
| Williams %R (14): | -88.82 | |
| Chande Momentum Oscillator (20): | -0.52 | |
| Repulse (5,40,3): | -0.1300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 1.60 |
| MA7: | 166.75 | |
| MA20: | 165.38 | |
| MA50: | 163.95 | |
| MA100: | 161.67 | |
| MAexp7: | 164.34 | |
| MAexp20: | 164.99 | |
| MAexp50: | 166.10 | |
| MAexp100: | 166.70 | |
| Price / MA7: | -1.57% | |
| Price / MA20: | -0.75% | |
| Price / MA50: | +0.12% | |
| Price / MA100: | +1.53% | |
| Price / MAexp7: | -0.12% | |
| Price / MAexp20: | -0.52% | |
| Price / MAexp50: | -1.18% | |
| Price / MAexp100: | -1.54% |
Quotes :
-
Real time data
-
Forex
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:
-
Technical Analysis: 02/04/2024 - EURJPY pulls back towards crucial trendline
-
EUR/JPY Forecast April 1, 2024
-
Technical Analysis: 27/03/2024 - Will EURJPY re-test the 16-year high soon?
-
Technical Analysis: 12/03/2024 - EURJPY drops below ascending channel
-
Technical Analysis: 05/03/2024 - EURJPY recovers from mild pullback
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis EUR/JPY - 1H