EUR/JPY - 1H - Technical analysis published on 05/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
39%
33%
28%
My opinion
Bearish under 169.54 JPY
My targets
167.50 JPY (-1.12)
165.65 JPY (-2.97)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for EUR/JPY as long as the price remains well below 169.54 JPY. The next bearish objective for sellers is set at 167.50 JPY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 165.65 JPY. In case of crossing, the next objective would be the support located at 164.80 JPY. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 167.50 JPY. With this support, against the trend traders who want to buy EUR/JPY on a buy signal from their trading strategy should not hesitate to act.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
0.5
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EUR/JPY rating 168.62 JPY. The price is lower by -0.38% since the last closing and was traded between 168.07 JPY and 169.40 JPY over the period. The price is currently at +0.33% from its lowest and -0.46% from its highest.168.07
169.40
168.62
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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 EUR/JPY in 1H shows an overall slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 5 are neutral and 6 are bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 165.65 | 167.50 | 168.55 | 168.62 | 169.54 |
Change (%) | -1.76% | -0.66% | -0.04% | - | +0.55% |
Change | -2.97 | -1.12 | -0.07 | - | +0.92 |
Level | Minor | Intermediate | Intermediate | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 167.90 | 168.23 | 168.74 | 169.07 | 169.58 | 169.91 | 170.42 |
Camarilla | 169.03 | 169.11 | 169.18 | 169.26 | 169.34 | 169.41 | 169.49 |
Woodie | 168.00 | 168.28 | 168.84 | 169.12 | 169.68 | 169.96 | 170.52 |
Fibonacci | 168.23 | 168.55 | 168.75 | 169.07 | 169.39 | 169.59 | 169.91 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 161.95 | 163.20 | 165.49 | 166.74 | 169.03 | 170.28 | 172.57 |
Camarilla | 166.82 | 167.14 | 167.47 | 167.79 | 168.12 | 168.44 | 168.76 |
Woodie | 162.48 | 163.46 | 166.02 | 167.00 | 169.56 | 170.54 | 173.10 |
Fibonacci | 163.20 | 164.55 | 165.38 | 166.74 | 168.09 | 168.92 | 170.28 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 46.01 | |
MACD (12,26,9): | -0.1300 | |
Directional Movement: | -16.17 | |
AROON (14): | -42.86 | |
DEMA (21): | 168.58 | |
Parabolic SAR (0,02-0,02-0,2): | 168.07 | |
Elder Ray (13): | -0.06 | |
Super Trend (3,10): | 169.13 | |
Zig ZAG (10): | 168.64 | |
VORTEX (21): | 0.8700 | |
Stochastique (14,3,5): | 34.61 | |
TEMA (21): | 168.39 | |
Williams %R (14): | -56.45 | |
Chande Momentum Oscillator (20): | -0.38 | |
Repulse (5,40,3): | 0.0800 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0100 | |
Courbe Coppock: | 0.75 |
MA7: | 167.88 | |
MA20: | 166.76 | |
MA50: | 164.71 | |
MA100: | 162.56 | |
MAexp7: | 168.55 | |
MAexp20: | 168.72 | |
MAexp50: | 168.71 | |
MAexp100: | 168.36 | |
Price / MA7: | +0.44% | |
Price / MA20: | +1.12% | |
Price / MA50: | +2.37% | |
Price / MA100: | +3.73% | |
Price / MAexp7: | +0.04% | |
Price / MAexp20: | -0.06% | |
Price / MAexp50: | -0.05% | |
Price / MAexp100: | +0.15% |
Quotes :
-
Real time data
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Forex
News
The last news published on EUR/JPY at the time of the generation of this analysis 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
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