GBP/JPY - 1H - Technical analysis published on 10/29/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 135.37 JPY
My targets
134.45 JPY (-0.53)
132.46 JPY (-2.52)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GBP/JPY as long as the price remains well below 135.37 JPY. The sellers” bearish objective is set at 134.45 JPY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 132.46 JPY. In case of crossing, the next objective would be the support located at 129.65 JPY. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.3
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This analysis was given by TheFuss. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GBP/JPY price is 134.98 JPY. The price is lower by -0.38% since the last closing and was traded between 134.65 JPY and 135.96 JPY over the period. The price is currently at +0.25% from its lowest and -0.72% from its highest.134.65
135.96
134.98
A study of price movements over other periods shows the following variations:
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 GBP/JPY in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by 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 bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 132.46 | 134.45 | 134.88 | 134.98 | 135.37 | 136.35 | 137.08 |
| Change (%) | -1.87% | -0.39% | -0.07% | - | +0.29% | +1.01% | +1.56% |
| Change | -2.52 | -0.53 | -0.10 | - | +0.39 | +1.37 | +2.10 |
| Level | Minor | Major | Major | - | Minor | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 133.48 | 134.18 | 134.84 | 135.54 | 136.20 | 136.90 | 137.56 |
| Camarilla | 135.13 | 135.25 | 135.38 | 135.50 | 135.63 | 135.75 | 135.87 |
| Woodie | 133.46 | 134.17 | 134.82 | 135.53 | 136.18 | 136.89 | 137.54 |
| Fibonacci | 134.18 | 134.70 | 135.02 | 135.54 | 136.06 | 136.38 | 136.90 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 179.93 | 181.65 | 182.90 | 184.62 | 185.87 | 187.59 | 188.84 |
| Camarilla | 183.32 | 183.60 | 183.87 | 184.14 | 184.41 | 184.68 | 184.96 |
| Woodie | 179.69 | 181.53 | 182.66 | 184.50 | 185.63 | 187.47 | 188.60 |
| Fibonacci | 181.65 | 182.79 | 183.49 | 184.62 | 185.76 | 186.46 | 187.59 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 137.04 | 138.44 | 137.44 | 138.84 | 137.84 | 139.24 | 138.24 |
| Camarilla | 136.33 | 136.37 | 136.40 | 136.44 | 136.48 | 136.51 | 136.55 |
| Woodie | 135.84 | 137.84 | 136.24 | 138.24 | 136.64 | 138.64 | 137.04 |
| Fibonacci | 138.44 | 138.59 | 138.69 | 138.84 | 138.99 | 139.09 | 139.24 |
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): | 33.04 | |
| MACD (12,26,9): | -0.2000 | |
| Directional Movement: | -14.14 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 135.10 | |
| Parabolic SAR (0,02-0,02-0,2): | 135.60 | |
| Elder Ray (13): | -0.25 | |
| Super Trend (3,10): | 135.65 | |
| Zig ZAG (10): | 134.90 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 23.66 | |
| TEMA (21): | 135.03 | |
| Williams %R (14): | -79.39 | |
| Chande Momentum Oscillator (20): | -0.93 | |
| Repulse (5,40,3): | -0.1800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.79 |
| MA7: | 136.71 | |
| MA20: | 136.79 | |
| MA50: | 137.20 | |
| MA100: | 136.59 | |
| MAexp7: | 135.10 | |
| MAexp20: | 135.33 | |
| MAexp50: | 135.65 | |
| MAexp100: | 136.00 | |
| Price / MA7: | -1.27% | |
| Price / MA20: | -1.32% | |
| Price / MA50: | -1.62% | |
| Price / MA100: | -1.18% | |
| Price / MAexp7: | -0.09% | |
| Price / MAexp20: | -0.26% | |
| Price / MAexp50: | -0.49% | |
| Price / MAexp100: | -0.75% |
Quotes :
2020-10-29 16:02:54
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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 October 30, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for October 29, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for October 28, 2020 by FXEmpire
-
GBP/JPY Technical Analysis for October 27, 2020 by FXEmpire
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GBP/JPY Technical Analysis for the Week of October 26, 2020 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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