USD/JPY - 1H - Technical analysis published on 12/06/2019 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 108.79 JPY
My targets
107.82 JPY (-0.74)
107.17 JPY (-1.39)
My analysis
USD/JPY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 108.79 JPY. The next support located at 107.82 JPY is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 107.17 JPY. Below this support, sellers could then target 106.60 JPY. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
FORCE
0
10
7.5
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/JPY price is 108.56 JPY. The price is lower by -0.16% since the last closing and was between 108.55 JPY and 108.78 JPY. This implies that the price is at +0.01% from its lowest and at -0.20% from its highest.108.55
108.78
108.56
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this 1H chart of USD/JPY indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish trend reversal : Moving Average 50
Type : Bearish
Timeframe : 1 hour
The probability of a further decline is moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 106.60 | 107.17 | 108.49 | 108.56 | 108.65 | 108.79 | 109.00 |
| Change (%) | -1.81% | -1.28% | -0.06% | - | +0.08% | +0.21% | +0.41% |
| Change | -1.96 | -1.39 | -0.07 | - | +0.09 | +0.23 | +0.44 |
| Level | Minor | Intermediate | Major | - | 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 | 108.24 | 108.44 | 108.59 | 108.79 | 108.94 | 109.14 | 109.29 |
| Camarilla | 108.63 | 108.67 | 108.70 | 108.73 | 108.76 | 108.79 | 108.83 |
| Woodie | 108.21 | 108.43 | 108.56 | 108.78 | 108.91 | 109.13 | 109.26 |
| Fibonacci | 108.44 | 108.58 | 108.66 | 108.79 | 108.93 | 109.01 | 109.14 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 107.82 | 108.23 | 108.86 | 109.27 | 109.90 | 110.31 | 110.94 |
| Camarilla | 109.21 | 109.31 | 109.41 | 109.50 | 109.60 | 109.69 | 109.79 |
| Woodie | 107.94 | 108.29 | 108.98 | 109.33 | 110.02 | 110.37 | 111.06 |
| Fibonacci | 108.23 | 108.62 | 108.87 | 109.27 | 109.66 | 109.91 | 110.31 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 106.59 | 107.24 | 108.37 | 109.02 | 110.15 | 110.80 | 111.93 |
| Camarilla | 109.01 | 109.17 | 109.34 | 109.50 | 109.66 | 109.83 | 109.99 |
| Woodie | 106.83 | 107.36 | 108.61 | 109.14 | 110.39 | 110.92 | 112.17 |
| Fibonacci | 107.24 | 107.92 | 108.34 | 109.02 | 109.70 | 110.12 | 110.80 |
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): | 27.76 | |
| MACD (12,26,9): | -0.0600 | |
| Directional Movement: | -11.19 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 108.60 | |
| Parabolic SAR (0,02-0,02-0,2): | 108.73 | |
| Elder Ray (13): | -0.07 | |
| Super Trend (3,10): | 108.77 | |
| Zig ZAG (10): | 108.57 | |
| VORTEX (21): | 0.8800 | |
| Stochastique (14,3,5): | 7.38 | |
| TEMA (21): | 108.57 | |
| Williams %R (14): | -95.65 | |
| Chande Momentum Oscillator (20): | -0.21 | |
| Repulse (5,40,3): | -0.0700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.25 |
| MA7: | 108.98 | |
| MA20: | 108.86 | |
| MA50: | 108.51 | |
| MA100: | 107.80 | |
| MAexp7: | 108.60 | |
| MAexp20: | 108.67 | |
| MAexp50: | 108.75 | |
| MAexp100: | 108.85 | |
| Price / MA7: | -0.39% | |
| Price / MA20: | -0.28% | |
| Price / MA50: | +0.05% | |
| Price / MA100: | +0.71% | |
| Price / MAexp7: | -0.04% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | -0.17% | |
| Price / MAexp100: | -0.27% |
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 Technical Analysis for December 06, 2019 by FXEmpire
-
USD/JPY Technical Analysis for December 05, 2019 by FXEmpire
-
USD/JPY Technical Analysis for December 04, 2019 by FXEmpire
-
USD/JPY Technical Analysis for December 03, 2019 by FXEmpire
-
USD/JPY Technical Analysis for the week of December 02, 2019 by FXEmpire
This member declared not having a position on this financial instrument or a related financial instrument.
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