EUR/JPY - 1H - Technical analysis published on 05/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
28%
22%
50%
My opinion
Bullish above 168.83 JPY
My targets
169.54 JPY (+0.25)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on EUR/JPY. As long as you are above the support located at 168.83 JPY, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 169.54 JPY would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. If the support 168.83 JPY were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
4.1
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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 169.29 JPY. The price has increased by +0.04% since the last closing and was traded between 168.97 JPY and 169.58 JPY over the period. The price is currently at +0.19% from its lowest and -0.17% from its highest.168.97
169.58
169.29
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
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 this 1H chart of EUR/JPY indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
RSI indicator is back under 50
Type : Bearish
Timeframe : 1 hour
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
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 | 167.34 | 167.97 | 168.83 | 169.29 | 169.54 |
| Change (%) | -1.15% | -0.78% | -0.27% | - | +0.15% |
| Change | -1.95 | -1.32 | -0.46 | - | +0.25 |
| Level | Major | Minor | Minor | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 168.34 | 168.56 | 168.89 | 169.11 | 169.44 | 169.66 | 169.99 |
| Camarilla | 169.07 | 169.12 | 169.17 | 169.22 | 169.27 | 169.32 | 169.37 |
| Woodie | 168.40 | 168.59 | 168.95 | 169.14 | 169.50 | 169.69 | 170.05 |
| Fibonacci | 168.56 | 168.77 | 168.90 | 169.11 | 169.32 | 169.45 | 169.66 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 165.83 | 166.58 | 167.90 | 168.65 | 169.97 | 170.72 | 172.04 |
| Camarilla | 168.65 | 168.84 | 169.03 | 169.22 | 169.41 | 169.60 | 169.79 |
| Woodie | 166.12 | 166.72 | 168.19 | 168.79 | 170.26 | 170.86 | 172.33 |
| Fibonacci | 166.58 | 167.37 | 167.86 | 168.65 | 169.44 | 169.93 | 170.72 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 51.56 | |
| MACD (12,26,9): | 0.1200 | |
| Directional Movement: | -8.36 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 169.45 | |
| Parabolic SAR (0,02-0,02-0,2): | 169.58 | |
| Elder Ray (13): | -0.10 | |
| Super Trend (3,10): | 168.94 | |
| Zig ZAG (10): | 169.28 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 66.12 | |
| TEMA (21): | 169.45 | |
| Williams %R (14): | -49.18 | |
| Chande Momentum Oscillator (20): | 0.06 | |
| Repulse (5,40,3): | -0.0700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.29 |
| MA7: | 168.72 | |
| MA20: | 167.38 | |
| MA50: | 165.18 | |
| MA100: | 162.93 | |
| MAexp7: | 169.38 | |
| MAexp20: | 169.29 | |
| MAexp50: | 169.06 | |
| MAexp100: | 168.78 | |
| Price / MA7: | +0.34% | |
| Price / MA20: | +1.14% | |
| Price / MA50: | +2.49% | |
| Price / MA100: | +3.90% | |
| Price / MAexp7: | -0.05% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | +0.14% | |
| Price / MAexp100: | +0.30% |
Quotes :
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Real time data
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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.
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