USD/JPY

- JPY (-)

- Real time data - Forex

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Type:	Forex
Ticker:	USDJPY
ISIN:

USD/JPY - 1H - Technical analysis published on 04/29/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 157.08 JPY

My targets

159.69 JPY (+0.35)

161.06 JPY (+1.72)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/JPY as long as the price remains well above 157.08 JPY. The buyers' bullish objective is set at 159.69 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 161.06 JPY. If there is any crossing, the next objective would be the resistance located at 163.67 JPY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

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

8.8

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

The USD/JPY price is 159.34 JPY. On the day, this instrument gained +0.64% and was between 157.82 JPY and 160.23 JPY. This implies that the price is at +0.96% from its lowest and at -0.56% from its highest.

157.82

160.23

159.34

A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

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

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

New HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

New HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this USD/JPY chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 80

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

RSI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

The Central Indicators scanner specialised in technical indicators, has not detected anything further.

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

Near horizontal support

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

Price

	S3	S2	S1	Price
ProTrendLines	154.70	155.31	155.75	159.34
Change (%)	-2.91%	-2.53%	-2.25%	-
Change	-4.64	-4.03	-3.59	-
Level	Intermediate	Minor	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	152.58	153.78	156.05	157.25	159.52	160.72	162.99
Camarilla	157.38	157.69	158.01	158.33	158.65	158.97	159.28
Woodie	153.13	154.05	156.60	157.52	160.07	160.99	163.54
Fibonacci	153.78	155.10	155.92	157.25	158.57	159.39	160.72

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	151.73	153.10	155.71	157.08	159.69	161.06	163.67
Camarilla	157.24	157.60	157.97	158.33	158.70	159.06	159.43
Woodie	152.36	153.41	156.34	157.39	160.32	161.37	164.30
Fibonacci	153.10	154.62	155.56	157.08	158.60	159.54	161.06

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	142.37	144.43	147.86	149.92	153.35	155.41	158.84
Camarilla	149.79	150.29	150.80	151.30	151.80	152.31	152.81
Woodie	143.07	144.77	148.56	150.26	154.05	155.75	159.54
Fibonacci	144.43	146.52	147.82	149.92	152.01	153.31	155.41

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	84.10
MACD (12,26,9):	0.7400
Directional Movement:	40.69
AROON (14):	85.71
DEMA (21):	158.87
Parabolic SAR (0,02-0,02-0,2):	158.19
Elder Ray (13):	1.05
Super Trend (3,10):	158.02
Zig ZAG (10):	159.35
VORTEX (21):	1.2700
Stochastique (14,3,5):	71.80
TEMA (21):	159.18
Williams %R (14):	-29.47
Chande Momentum Oscillator (20):	1.70
Repulse (5,40,3):	0.2900
ROCnROLL:	1
TRIX (15,9):	0.0600
Courbe Coppock:	2.07

MA7:	156.10
MA20:	153.98
MA50:	151.59
MA100:	148.81
MAexp7:	158.77
MAexp20:	157.94
MAexp50:	156.91
MAexp100:	156.13
Price / MA7:	+2.08%
Price / MA20:	+3.48%
Price / MA50:	+5.11%
Price / MA100:	+7.08%
Price / MAexp7:	+0.36%
Price / MAexp20:	+0.89%
Price / MAexp50:	+1.55%
Price / MAexp100:	+2.06%

Quotes : - Real time data - Forex

News

The latest news and videos published on USD/JPY at the time of the analysis were as follows:

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

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