JPY/NOK - 1H - Technical analysis published on 02/10/2023 (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
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
0%
39%
My opinion
Bearish under 0.07809 NOK
My targets
0.07742 NOK (-0.00015)
0.07721 NOK (-0.00036)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on JPY/NOK. As long as you are under the resistance located at 0.07809 NOK, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.07742 NOK would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 0.07721 NOK as an objective. Crossing it would then enable sellers to target 0.07675 NOK. If the resistance 0.07809 NOK were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
JPY/NOK rating 0.07757 NOK. The price registered an increase of +0.22% on the session and was traded between 0.07728 NOK and 0.07767 NOK over the period. The price is currently at +0.38% from its lowest and -0.13% from its highest.0.07728
0.07767
0.07757
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 (1 year)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of JPY/NOK indicates that the overall trend is bearish. The signals given by moving averages are 67.86% bearish. This bearish trend could slow down given the neutral signals currently being 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, 11 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
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 support
Type : Bullish
Timeframe : 1 hour
Near support of triangle
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.07675 | 0.07721 | 0.07742 | 0.07757 | 0.07809 | 0.07839 | 0.07919 |
| Change (%) | -1.06% | -0.46% | -0.19% | - | +0.67% | +1.06% | +2.09% |
| Change | -0.00082 | -0.00036 | -0.00015 | - | +0.00052 | +0.00082 | +0.00162 |
| Level | Minor | Intermediate | Major | - | Minor | Intermediate | Intermediate |
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 | 0.07518 | 0.07610 | 0.07675 | 0.07767 | 0.07832 | 0.07924 | 0.07989 |
| Camarilla | 0.07697 | 0.07711 | 0.07726 | 0.07740 | 0.07754 | 0.07769 | 0.07783 |
| Woodie | 0.07505 | 0.07603 | 0.07662 | 0.07760 | 0.07819 | 0.07917 | 0.07976 |
| Fibonacci | 0.07610 | 0.07670 | 0.07707 | 0.07767 | 0.07827 | 0.07864 | 0.07924 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.07362 | 0.07468 | 0.07628 | 0.07734 | 0.07894 | 0.08000 | 0.08160 |
| Camarilla | 0.07716 | 0.07740 | 0.07765 | 0.07789 | 0.07813 | 0.07838 | 0.07862 |
| Woodie | 0.07390 | 0.07482 | 0.07656 | 0.07748 | 0.07922 | 0.08014 | 0.08188 |
| Fibonacci | 0.07468 | 0.07569 | 0.07632 | 0.07734 | 0.07835 | 0.07898 | 0.08000 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.07158 | 0.07304 | 0.07489 | 0.07635 | 0.07820 | 0.07966 | 0.08151 |
| Camarilla | 0.07583 | 0.07613 | 0.07644 | 0.07674 | 0.07704 | 0.07735 | 0.07765 |
| Woodie | 0.07178 | 0.07314 | 0.07509 | 0.07645 | 0.07840 | 0.07976 | 0.08171 |
| Fibonacci | 0.07304 | 0.07430 | 0.07509 | 0.07635 | 0.07761 | 0.07840 | 0.07966 |
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): | 45.39 | |
| MACD (12,26,9): | -0.0001 | |
| Directional Movement: | -7.87439 | |
| AROON (14): | 50.00000 | |
| DEMA (21): | 0.07732 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.07712 | |
| Elder Ray (13): | 0.00011 | |
| Super Trend (3,10): | 0.07787 | |
| Zig ZAG (10): | 0.07753 | |
| VORTEX (21): | 0.9085 | |
| Stochastique (14,3,5): | 85.86 | |
| TEMA (21): | 0.07736 | |
| Williams %R (14): | -20.00 | |
| Chande Momentum Oscillator (20): | 0.00009 | |
| Repulse (5,40,3): | 0.0328 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0396 | |
| Courbe Coppock: | 0.02 |
| MA7: | 0.07800 | |
| MA20: | 0.07704 | |
| MA50: | 0.07539 | |
| MA100: | 0.07363 | |
| MAexp7: | 0.07748 | |
| MAexp20: | 0.07754 | |
| MAexp50: | 0.07782 | |
| MAexp100: | 0.07789 | |
| Price / MA7: | -0.55% | |
| Price / MA20: | +0.69% | |
| Price / MA50: | +2.89% | |
| Price / MA100: | +5.35% | |
| Price / MAexp7: | +0.12% | |
| Price / MAexp20: | +0.04% | |
| Price / MAexp50: | -0.32% | |
| Price / MAexp100: | -0.41% |
Quotes :
-
Real time data
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Forex
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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