GBP/JPY - Daily - Technical analysis published on 02/09/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 186.61 JPY
My targets
190.64 JPY (+2.24)
195.83 JPY (+7.43)
My analysis
GBP/JPY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 186.61 JPY. The next resistance located at 190.64 JPY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 195.83 JPY. After this resistance, buyers could then target 215.53 JPY. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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Additional analysis
Quotes
The GBP/JPY price is 188.40 JPY. The price has increased by +0.01% since the last closing and was traded between 188.34 JPY and 188.49 JPY over the period. The price is currently at +0.03% from its lowest and -0.05% from its highest.188.34
188.49
188.40
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
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
Technical analysis of this Daily chart of GBP/JPY indicates that the overall trend is strongly bullish. 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. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : Daily
In fact, 13 technical indicators on 18 studied are currently positioned bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
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 harami
Type : Bearish
Timeframe : Daily
Bearish harami cross
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 183.59 | 186.61 | 188.39 | 188.40 | 195.83 | 215.53 |
Change (%) | -2.55% | -0.95% | -0.01% | - | +3.94% | +14.40% |
Change | -4.81 | -1.79 | -0.01 | - | +7.43 | +27.13 |
Level | Intermediate | Major | 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 | 185.72 | 186.30 | 187.34 | 187.92 | 188.96 | 189.54 | 190.58 |
Camarilla | 187.95 | 188.09 | 188.24 | 188.39 | 188.54 | 188.69 | 188.84 |
Woodie | 185.96 | 186.42 | 187.58 | 188.04 | 189.20 | 189.66 | 190.82 |
Fibonacci | 186.30 | 186.92 | 187.30 | 187.92 | 188.54 | 188.92 | 189.54 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 182.60 | 183.92 | 185.67 | 186.99 | 188.74 | 190.06 | 191.81 |
Camarilla | 186.59 | 186.87 | 187.15 | 187.43 | 187.71 | 187.99 | 188.27 |
Woodie | 182.83 | 184.03 | 185.90 | 187.10 | 188.97 | 190.17 | 192.04 |
Fibonacci | 183.92 | 185.09 | 185.81 | 186.99 | 188.16 | 188.88 | 190.06 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 170.26 | 174.50 | 180.45 | 184.69 | 190.64 | 194.88 | 200.83 |
Camarilla | 183.60 | 184.53 | 185.47 | 186.40 | 187.33 | 188.27 | 189.20 |
Woodie | 171.12 | 174.93 | 181.31 | 185.12 | 191.50 | 195.31 | 201.69 |
Fibonacci | 174.50 | 178.39 | 180.80 | 184.69 | 188.58 | 190.99 | 194.88 |
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): | 62.09 | |
MACD (12,26,9): | 0.8200 | |
Directional Movement: | 12.81 | |
AROON (14): | -50.00 | |
DEMA (21): | 187.95 | |
Parabolic SAR (0,02-0,02-0,2): | 185.30 | |
Elder Ray (13): | 1.20 | |
Super Trend (3,10): | 184.80 | |
Zig ZAG (10): | 188.40 | |
VORTEX (21): | 1.1300 | |
Stochastique (14,3,5): | 72.97 | |
TEMA (21): | 188.13 | |
Williams %R (14): | -14.05 | |
Chande Momentum Oscillator (20): | 0.71 | |
Repulse (5,40,3): | 0.7500 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0800 | |
Courbe Coppock: | 0.09 |
MA7: | 187.22 | |
MA20: | 187.36 | |
MA50: | 184.56 | |
MA100: | 184.13 | |
MAexp7: | 187.53 | |
MAexp20: | 186.81 | |
MAexp50: | 185.52 | |
MAexp100: | 184.06 | |
Price / MA7: | +0.63% | |
Price / MA20: | +0.56% | |
Price / MA50: | +2.08% | |
Price / MA100: | +2.32% | |
Price / MAexp7: | +0.46% | |
Price / MAexp20: | +0.85% | |
Price / MAexp50: | +1.55% | |
Price / MAexp100: | +2.36% |
Quotes :
-
Real time data
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Forex
News
The last news published on GBP/JPY at the time of the generation of this analysis was as follows:
- Pound/Yen Today: How to Capitalize on the Volatility of GBP/JPY | GBP/JPY Forecast February 6, 2024
- GBP/JPY Forecast for February 06, 2024 by Chris Lewis for FXEmpire
- Technical Analysis: 02/02/2024 - GBPJPY ticks up in BoE aftermath
- Technical Analysis: 19/01/2024 - GBPJPY charts new high but with caution
- Technical Analysis: 22/12/2023 - GBPJPY rotates lower after rejection at 50-day SMA
This member declared not having a position on this financial instrument or a related financial instrument.
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