EURJPY intraday technical analysis - 19/10/2018

EURJPY

1.30247 / 1.30255

SUMMARY

Up

TREND

Upward penetration

MA10

Bullish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: EURJPY initiates recovery phase on the hourly chart. Clearance of next resistance level at 129.25 (R1) is required to enable bullish pressure and open route towards to our next targets at 129.70 (R2) and 130.15 (R3).
Downwards scenario: An evidence of further descending structure evolvement could be provided with a break of our next support level at 128.69 (S1). In such case we would suggest next intraday targets at 128.31 (S2) and 127.93 (S3).

Resistance levels: 129.25 , 129.70 , 130.15

Support levels: 128.69 , 128.31 , 127.93