GBP/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	GBPJPY
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GBP/JPY - 1H - Technical analysis published on 05/10/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

50%

My opinion

Bullish above 194.86 JPY

My targets

195.83 JPY (+0.62)

196.56 JPY (+1.35)

My analysis

The bullish trend is currently very strong on GBP/JPY. As long as the price remains above the support at 194.86 JPY, you could try to benefit from the boom. The first bullish objective is located at 195.83 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 196.56 JPY as an objective. Crossing it would then enable buyers to target 197.81 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.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

7.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

GBP/JPY rating 195.21 JPY. The price has increased by +0.30% since the last closing and was traded between 194.60 JPY and 195.32 JPY over the period. The price is currently at +0.31% from its lowest and -0.06% from its highest.

194.60

195.32

195.21

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

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 HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of GBP/JPY indicates that the overall trend is strongly bullish. 92.86% 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 scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

The presence of these bearish patterns in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term were also noted

Bearish harami

Type : Bearish

Timeframe : 1 hour

Bearish harami cross

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	192.99	194.10	194.86	195.21	195.83	196.56	197.81
Change (%)	-1.14%	-0.57%	-0.18%	-	+0.32%	+0.69%	+1.33%
Change	-2.22	-1.11	-0.35	-	+0.62	+1.35	+2.60
Level	Minor	Intermediate	Intermediate	-	Intermediate	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	192.99	193.42	194.02	194.45	195.05	195.48	196.08
Camarilla	194.35	194.44	194.54	194.63	194.72	194.82	194.91
Woodie	193.09	193.46	194.12	194.49	195.15	195.52	196.18
Fibonacci	193.42	193.81	194.05	194.45	194.84	195.08	195.48

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	179.50	185.43	188.72	194.65	197.94	203.87	207.16
Camarilla	189.48	190.32	191.17	192.01	192.86	193.70	194.55
Woodie	178.18	184.77	187.40	193.99	196.62	203.21	205.84
Fibonacci	185.43	188.95	191.13	194.65	198.17	200.35	203.87

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	180.56	185.27	191.15	195.86	201.74	206.45	212.33
Camarilla	194.11	195.08	196.05	197.02	197.99	198.96	199.93
Woodie	181.14	185.56	191.73	196.15	202.32	206.74	212.91
Fibonacci	185.27	189.32	191.82	195.86	199.91	202.41	206.45

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):	60.85
MACD (12,26,9):	0.1500
Directional Movement:	0.71
AROON (14):	42.86
DEMA (21):	195.17
Parabolic SAR (0,02-0,02-0,2):	195.30
Elder Ray (13):	-0.02
Super Trend (3,10):	194.53
Zig ZAG (10):	195.20
VORTEX (21):	1.0500
Stochastique (14,3,5):	64.38
TEMA (21):	195.18
Williams %R (14):	-17.86
Chande Momentum Oscillator (20):	0.29
Repulse (5,40,3):	0.1700
ROCnROLL:	1
TRIX (15,9):	0.0100
Courbe Coppock:	0.36

MA7:	193.60
MA20:	193.68
MA50:	191.93
MA100:	189.26
MAexp7:	195.09
MAexp20:	194.96
MAexp50:	194.66
MAexp100:	194.39
Price / MA7:	+0.83%
Price / MA20:	+0.79%
Price / MA50:	+1.71%
Price / MA100:	+3.14%
Price / MAexp7:	+0.06%
Price / MAexp20:	+0.13%
Price / MAexp50:	+0.28%
Price / MAexp100:	+0.42%

Quotes : - Real time data - Forex

News

The last news published on GBP/JPY at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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