JPY/PLN - 1H - Technical analysis published on 06/19/2023 (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%
6%
33%
My opinion
Bearish under 0.02896 PLN
My targets
0.02876 PLN (-0.00014)
0.02842 PLN (-0.00048)
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/PLN. As long as you are under the resistance located at 0.02896 PLN, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 0.02876 PLN 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 0.02842 PLN as an objective. Crossing it would then enable sellers to target 0.02787 PLN. If the resistance 0.02896 PLN 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.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0.7
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Additional analysis
Quotes
The JPY/PLN price is 0.02890 PLN. The price registered an increase of +0.45% on the session and was traded between 0.02866 PLN and 0.02892 PLN over the period. The price is currently at +0.84% from its lowest and -0.07% from its highest.0.02866
0.02892
0.02890
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
Here is a more detailed summary of the historical variations registered by JPY/PLN:
New LOW record (5 years)
Type : Bearish
Timeframe : Weekly
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of JPY/PLN indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Aroon indicator bullish trend
Type : Bullish
Timeframe : 1 hour
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 Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 0.02168 | 0.02787 | 0.02876 | 0.02890 | 0.02896 | 0.02950 | 0.02989 |
| Change (%) | -24.98% | -3.56% | -0.48% | - | +0.21% | +2.08% | +3.43% |
| Change | -0.00722 | -0.00103 | -0.00014 | - | +0.00006 | +0.00060 | +0.00099 |
| Level | Minor | Intermediate | Intermediate | - | 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 | 0.02832 | 0.02854 | 0.02865 | 0.02887 | 0.02898 | 0.02920 | 0.02931 |
| Camarilla | 0.02868 | 0.02871 | 0.02874 | 0.02877 | 0.02880 | 0.02883 | 0.02886 |
| Woodie | 0.02828 | 0.02851 | 0.02861 | 0.02884 | 0.02894 | 0.02917 | 0.02927 |
| Fibonacci | 0.02854 | 0.02866 | 0.02874 | 0.02887 | 0.02899 | 0.02907 | 0.02920 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.02738 | 0.02806 | 0.02842 | 0.02910 | 0.02946 | 0.03014 | 0.03050 |
| Camarilla | 0.02848 | 0.02858 | 0.02868 | 0.02877 | 0.02887 | 0.02896 | 0.02906 |
| Woodie | 0.02721 | 0.02798 | 0.02825 | 0.02902 | 0.02929 | 0.03006 | 0.03033 |
| Fibonacci | 0.02806 | 0.02846 | 0.02871 | 0.02910 | 0.02950 | 0.02975 | 0.03014 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 0.02861 | 0.02926 | 0.02985 | 0.03050 | 0.03109 | 0.03174 | 0.03233 |
| Camarilla | 0.03009 | 0.03020 | 0.03032 | 0.03043 | 0.03054 | 0.03066 | 0.03077 |
| Woodie | 0.02857 | 0.02925 | 0.02981 | 0.03049 | 0.03105 | 0.03173 | 0.03229 |
| Fibonacci | 0.02926 | 0.02974 | 0.03003 | 0.03050 | 0.03098 | 0.03127 | 0.03174 |
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): | 53.26 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 0.00260 | |
| AROON (14): | 35.71429 | |
| DEMA (21): | 0.02878 | |
| Parabolic SAR (0,02-0,02-0,2): | 0.02866 | |
| Elder Ray (13): | 0.00005 | |
| Super Trend (3,10): | 0.02897 | |
| Zig ZAG (10): | 0.02890 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 80.55 | |
| TEMA (21): | 0.02882 | |
| Williams %R (14): | -4.00 | |
| Chande Momentum Oscillator (20): | 0.00010 | |
| Repulse (5,40,3): | 0.3960 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0287 | |
| Courbe Coppock: | 0.08 |
| MA7: | 0.02928 | |
| MA20: | 0.02979 | |
| MA50: | 0.03048 | |
| MA100: | 0.03172 | |
| MAexp7: | 0.02884 | |
| MAexp20: | 0.02884 | |
| MAexp50: | 0.02897 | |
| MAexp100: | 0.02917 | |
| Price / MA7: | -1.30% | |
| Price / MA20: | -2.99% | |
| Price / MA50: | -5.18% | |
| Price / MA100: | -8.89% | |
| Price / MAexp7: | +0.21% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | -0.24% | |
| Price / MAexp100: | -0.93% |
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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