GBP/JPY - 1H - Technical analysis published on 05/29/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 131.83 JPY
My targets
133.03 JPY (+0.42)
134.15 JPY (+1.54)
My analysis
The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 131.83 JPY, you could try to benefit from the boom. The first bullish objective is located at 133.03 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 134.15 JPY as an objective. Crossing it would then enable buyers to target 135.23 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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
7.9
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/JPY price is 132.61 JPY. The price registered an increase of +0.01% on the session and was traded between 131.78 JPY and 133.46 JPY over the period. The price is currently at +0.63% from its lowest and -0.64% from its highest.131.78
133.46
132.61
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of GBP/JPY in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, 11 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of triangle is broken
Type : Bullish
Timeframe : 1 hour
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 131.36 | 131.83 | 132.51 | 132.61 | 132.69 | 133.03 | 135.23 |
| Change (%) | -0.94% | -0.59% | -0.08% | - | +0.06% | +0.32% | +1.98% |
| Change | -1.25 | -0.78 | -0.10 | - | +0.08 | +0.42 | +2.62 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 130.93 | 131.38 | 131.99 | 132.44 | 133.05 | 133.50 | 134.11 |
| Camarilla | 132.31 | 132.41 | 132.50 | 132.60 | 132.70 | 132.79 | 132.89 |
| Woodie | 131.01 | 131.42 | 132.07 | 132.48 | 133.13 | 133.54 | 134.19 |
| Fibonacci | 131.38 | 131.79 | 132.04 | 132.44 | 132.85 | 133.10 | 133.50 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 126.14 | 127.71 | 129.36 | 130.93 | 132.58 | 134.15 | 135.80 |
| Camarilla | 130.12 | 130.41 | 130.71 | 131.00 | 131.30 | 131.59 | 131.89 |
| Woodie | 126.17 | 127.73 | 129.39 | 130.95 | 132.61 | 134.17 | 135.83 |
| Fibonacci | 127.71 | 128.94 | 129.70 | 130.93 | 132.16 | 132.92 | 134.15 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 128.81 | 130.35 | 132.66 | 134.20 | 136.51 | 138.05 | 140.36 |
| Camarilla | 133.90 | 134.25 | 134.61 | 134.96 | 135.31 | 135.67 | 136.02 |
| Woodie | 129.19 | 130.54 | 133.04 | 134.39 | 136.89 | 138.24 | 140.74 |
| Fibonacci | 130.35 | 131.82 | 132.73 | 134.20 | 135.67 | 136.58 | 138.05 |
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): | 53.53 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | 14.43 | |
| AROON (14): | 35.71 | |
| DEMA (21): | 132.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 132.04 | |
| Elder Ray (13): | 0.18 | |
| Super Trend (3,10): | 132.14 | |
| Zig ZAG (10): | 132.65 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 62.90 | |
| TEMA (21): | 132.62 | |
| Williams %R (14): | -48.21 | |
| Chande Momentum Oscillator (20): | 0.35 | |
| Repulse (5,40,3): | -0.1900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.19 |
| MA7: | 131.98 | |
| MA20: | 131.74 | |
| MA50: | 132.79 | |
| MA100: | 136.36 | |
| MAexp7: | 132.60 | |
| MAexp20: | 132.47 | |
| MAexp50: | 132.37 | |
| MAexp100: | 132.19 | |
| Price / MA7: | +0.48% | |
| Price / MA20: | +0.66% | |
| Price / MA50: | -0.14% | |
| Price / MA100: | -2.75% | |
| Price / MAexp7: | +0.01% | |
| Price / MAexp20: | +0.11% | |
| Price / MAexp50: | +0.18% | |
| Price / MAexp100: | +0.32% |
Quotes :
2020-05-29 16:31:24
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Real time data
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Forex
News
Don"t forget to follow the news on GBP/JPY. At the time of publication of this analysis, the latest news was as follows:
-
GBP/JPY Technical Analysis for the Week of June 1, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for June 1, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for May 29, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for May 28, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for May 27, 2020 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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