USD/JPY - Daily - Technical analysis published on 10/23/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 106.23 JPY
My targets
103.11 JPY (-1.61)
101.57 JPY (-3.15)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on USD/JPY as long as the price remains well below 106.23 JPY. The sellers” bearish objective is set at 103.11 JPY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 101.57 JPY. In case of crossing, the next objective would be the support located at 87.29 JPY. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.9
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This analysis was given by Jlozano2012. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/JPY rating 104.72 JPY. The price registered a decrease of -0.18% on the session and was traded between 104.67 JPY and 104.92 JPY over the period. The price is currently at +0.05% from its lowest and -0.19% from its highest.104.67
104.92
104.72
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in Daily of this USD/JPY chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
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 : Daily
Near support of triangle
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 75.86 | 87.29 | 103.11 | 104.72 | 104.73 | 106.23 | 108.19 |
Change (%) | -27.56% | -16.64% | -1.54% | - | +0.01% | +1.44% | +3.31% |
Change | -28.86 | -17.43 | -1.61 | - | +0.01 | +1.51 | +3.47 |
Level | Minor | Minor | Major | - | Major | Intermediate | Major |
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 | 104.14 | 104.30 | 104.61 | 104.77 | 105.08 | 105.24 | 105.55 |
Camarilla | 104.78 | 104.82 | 104.87 | 104.91 | 104.95 | 105.00 | 105.04 |
Woodie | 104.21 | 104.34 | 104.68 | 104.81 | 105.15 | 105.28 | 105.62 |
Fibonacci | 104.30 | 104.48 | 104.59 | 104.77 | 104.95 | 105.06 | 105.24 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 104.22 | 104.63 | 105.02 | 105.43 | 105.82 | 106.23 | 106.62 |
Camarilla | 105.20 | 105.27 | 105.35 | 105.42 | 105.49 | 105.57 | 105.64 |
Woodie | 104.22 | 104.63 | 105.02 | 105.43 | 105.82 | 106.23 | 106.62 |
Fibonacci | 104.63 | 104.93 | 105.12 | 105.43 | 105.73 | 105.92 | 106.23 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 101.57 | 102.78 | 104.12 | 105.33 | 106.67 | 107.88 | 109.22 |
Camarilla | 104.75 | 104.98 | 105.22 | 105.45 | 105.68 | 105.92 | 106.15 |
Woodie | 101.63 | 102.81 | 104.18 | 105.36 | 106.73 | 107.91 | 109.28 |
Fibonacci | 102.78 | 103.76 | 104.36 | 105.33 | 106.31 | 106.91 | 107.88 |
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): | 39.35 | |
MACD (12,26,9): | -0.1800 | |
Directional Movement: | -19.03 | |
AROON (14): | -64.28 | |
DEMA (21): | 105.10 | |
Parabolic SAR (0,02-0,02-0,2): | 105.88 | |
Elder Ray (13): | -0.42 | |
Super Trend (3,10): | 106.15 | |
Zig ZAG (10): | 104.72 | |
VORTEX (21): | 0.9400 | |
Stochastique (14,3,5): | 24.48 | |
TEMA (21): | 105.04 | |
Williams %R (14): | -78.53 | |
Chande Momentum Oscillator (20): | -1.25 | |
Repulse (5,40,3): | -0.3200 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0100 | |
Courbe Coppock: | 0.98 |
MA7: | 105.15 | |
MA20: | 105.42 | |
MA50: | 105.61 | |
MA100: | 106.20 | |
MAexp7: | 105.06 | |
MAexp20: | 105.31 | |
MAexp50: | 105.63 | |
MAexp100: | 106.14 | |
Price / MA7: | -0.41% | |
Price / MA20: | -0.66% | |
Price / MA50: | -0.84% | |
Price / MA100: | -1.39% | |
Price / MAexp7: | -0.32% | |
Price / MAexp20: | -0.56% | |
Price / MAexp50: | -0.86% | |
Price / MAexp100: | -1.34% |
Quotes :
2020-10-23 04:25:31
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Real time data
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Forex
News
The latest news and videos published on USD/JPY at the time of the analysis were as follows:
- USD/JPY Technical Analysis for October 23, 2020 by FXEmpire
- USD/JPY Technical Analysis for October 22, 2020 by FXEmpire
- USD/JPY Technical Analysis for October 21, 2020 by FXEmpire
- USD/JPY Technical Analysis for October 20, 2020 by FXEmpire
- USD/JPY Technical Analysis for the Week of October 19, 2020 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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