GBP/JPY - 15 min. - Technical analysis published on 05/22/2023 (GMT)
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- Timeframe : 15 min.
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
94%
0%
6%
My opinion
Bullish above 171.83 JPY
My targets
172.42 JPY (+0.11)
173.09 JPY (+0.78)
My analysis
The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 171.83 JPY, you could try to benefit from the boom. The first bullish objective is located at 172.42 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 173.09 JPY as an objective. Crossing it would then enable buyers to target 173.68 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
8.2
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Additional analysis
Quotes
GBP/JPY rating 172.31 JPY. The price has increased by +0.33% since the last closing and was traded between 171.20 JPY and 172.37 JPY over the period. The price is currently at +0.65% from its lowest and -0.03% from its highest.171.20
172.37
172.31
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum 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:
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
A technical analysis in 15 min. of this GBP/JPY chart shows a strongly bullish trend. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 15 minutes
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 15 minutes
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 15 minutes
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 15 minutes
Resistance of channel is broken
Type : Bullish
Timeframe : 15 minutes
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 170.10 | 171.01 | 171.77 | 172.31 | 172.51 | 195.83 | 221.93 |
| Change (%) | -1.28% | -0.75% | -0.31% | - | +0.12% | +13.65% | +28.80% |
| Change | -2.21 | -1.30 | -0.54 | - | +0.20 | +23.52 | +49.62 |
| Level | Minor | Major | Minor | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 169.90 | 170.57 | 171.16 | 171.83 | 172.42 | 173.09 | 173.68 |
| Camarilla | 171.39 | 171.51 | 171.63 | 171.74 | 171.86 | 171.97 | 172.09 |
| Woodie | 169.85 | 170.55 | 171.11 | 171.81 | 172.37 | 173.07 | 173.63 |
| Fibonacci | 170.57 | 171.06 | 171.35 | 171.83 | 172.32 | 172.61 | 173.09 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 165.91 | 167.39 | 169.56 | 171.04 | 173.21 | 174.69 | 176.86 |
| Camarilla | 170.74 | 171.07 | 171.41 | 171.74 | 172.08 | 172.41 | 172.74 |
| Woodie | 166.27 | 167.56 | 169.92 | 171.21 | 173.57 | 174.86 | 177.22 |
| Fibonacci | 167.39 | 168.78 | 169.64 | 171.04 | 172.43 | 173.29 | 174.69 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 157.15 | 159.96 | 165.58 | 168.39 | 174.01 | 176.82 | 182.44 |
| Camarilla | 168.88 | 169.66 | 170.43 | 171.20 | 171.97 | 172.75 | 173.52 |
| Woodie | 158.56 | 160.66 | 166.99 | 169.09 | 175.42 | 177.52 | 183.85 |
| Fibonacci | 159.96 | 163.18 | 165.17 | 168.39 | 171.61 | 173.60 | 176.82 |
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): | 77.81 | |
| MACD (12,26,9): | 0.1800 | |
| Directional Movement: | 32.07 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 172.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 171.79 | |
| Elder Ray (13): | 0.37 | |
| Super Trend (3,10): | 171.84 | |
| Zig ZAG (10): | 172.36 | |
| VORTEX (21): | 1.2800 | |
| Stochastique (14,3,5): | 93.59 | |
| TEMA (21): | 172.18 | |
| Williams %R (14): | -4.12 | |
| Chande Momentum Oscillator (20): | 0.86 | |
| Repulse (5,40,3): | 0.2200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.79 |
| MA7: | 171.08 | |
| MA20: | 169.86 | |
| MA50: | 166.27 | |
| MA100: | 163.45 | |
| MAexp7: | 172.15 | |
| MAexp20: | 171.82 | |
| MAexp50: | 171.69 | |
| MAexp100: | 171.69 | |
| Price / MA7: | +0.72% | |
| Price / MA20: | +1.44% | |
| Price / MA50: | +3.63% | |
| Price / MA100: | +5.42% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +0.29% | |
| Price / MAexp50: | +0.36% | |
| Price / MAexp100: | +0.36% |
Quotes :
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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 May 22, 2023 by FXEmpire
-
GBP/JPY Technical Analysis for May 22, 2023 by FXEmpire
-
GBP/JPY Technical Analysis for May 19, 2023 by FXEmpire
-
GBP/JPY Forecast May 18, 2023
-
GBP/JPY Technical Analysis for May 18, 2023 by FXEmpire
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