USD/JPY - 1H - Technical analysis published on 05/01/2024 (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
39%
6%
56%
My opinion
Bullish above 157.00 JPY
My targets
158.44 JPY (+0.59)
160.23 JPY (+2.38)
My analysis
USD/JPY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 157.00 JPY. The next resistance located at 158.44 JPY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 160.23 JPY. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.1
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Additional analysis
Quotes
The USD/JPY rating is 157.85 JPY. On the day, this instrument gained +0.06% and was traded between 157.69 JPY and 158.01 JPY over the period. The price is currently at +0.10% from its lowest and -0.10% from its highest.157.69
158.01
157.85
A study of price movements over other periods shows the following variations:
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this USD/JPY chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
In fact, only 7 technical indicators out of 18 studied are currently positioned bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 154.70 | 155.75 | 157.00 | 157.85 | 158.44 | 160.23 |
Change (%) | -2.00% | -1.33% | -0.54% | - | +0.37% | +1.51% |
Change | -3.15 | -2.10 | -0.85 | - | +0.59 | +2.38 |
Level | Intermediate | Minor | 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 | 154.98 | 155.58 | 156.66 | 157.26 | 158.34 | 158.94 | 160.02 |
Camarilla | 157.29 | 157.44 | 157.60 | 157.75 | 157.90 | 158.06 | 158.21 |
Woodie | 155.23 | 155.70 | 156.91 | 157.38 | 158.59 | 159.06 | 160.27 |
Fibonacci | 155.58 | 156.22 | 156.62 | 157.26 | 157.90 | 158.30 | 158.94 |
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 | 142.88 | 146.84 | 152.30 | 156.26 | 161.72 | 165.68 | 171.14 |
Camarilla | 155.16 | 156.02 | 156.89 | 157.75 | 158.61 | 159.48 | 160.34 |
Woodie | 143.62 | 147.22 | 153.04 | 156.64 | 162.46 | 166.06 | 171.88 |
Fibonacci | 146.84 | 150.44 | 152.67 | 156.26 | 159.86 | 162.09 | 165.68 |
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): | 63.47 | |
MACD (12,26,9): | 0.1900 | |
Directional Movement: | 7.13 | |
AROON (14): | 64.29 | |
DEMA (21): | 158.03 | |
Parabolic SAR (0,02-0,02-0,2): | 158.01 | |
Elder Ray (13): | 0.04 | |
Super Trend (3,10): | 157.50 | |
Zig ZAG (10): | 157.90 | |
VORTEX (21): | 1.2000 | |
Stochastique (14,3,5): | 64.56 | |
TEMA (21): | 158.03 | |
Williams %R (14): | -39.39 | |
Chande Momentum Oscillator (20): | 0.13 | |
Repulse (5,40,3): | -0.0100 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0200 | |
Courbe Coppock: | 0.26 |
MA7: | 156.56 | |
MA20: | 154.46 | |
MA50: | 151.83 | |
MA100: | 149.03 | |
MAexp7: | 157.89 | |
MAexp20: | 157.75 | |
MAexp50: | 157.38 | |
MAexp100: | 156.89 | |
Price / MA7: | +0.82% | |
Price / MA20: | +2.19% | |
Price / MA50: | +3.96% | |
Price / MA100: | +5.92% | |
Price / MAexp7: | -0.03% | |
Price / MAexp20: | +0.06% | |
Price / MAexp50: | +0.30% | |
Price / MAexp100: | +0.61% |
Quotes :
-
Real time data
-
Forex
News
Don't forget to follow the news on USD/JPY. At the time of publication of this analysis, the latest news was as follows:
- USD/JPY Forecast and Technical Analysis, April 30, 2024, by Chris Lewis #fxempire #trading #USDJPY
- USD/JPY Forecast May 1, 2024
- USD/JPY Daily Forecast and Technical Analysis for April 30, 2024, by Chris Lewis for FX Empire
- USD/JPY Daily Forecast and Technical Analysis for April 29, 2024, by Chris Lewis for FX Empire
- USD/JPY Forecast April 29, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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