EURJPY intraday technical analysis - 13/08/2018

EURJPY

1.27565 / 1.27572

SUMMARY

Down

TREND

Down trend

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Break of our resistance at 126.05 (R1) would suggest next targets at 126.58 (R2) and 127.08 (R3).
Downwards scenario: On the other hand, progress below the initial support level at 125.06 (S1) might initiate new step of descending structure. Lower support is seen at 124.59 (S2) and any further market weakening would then be limited to final aim at 124.03 (S3).

Resistance levels: 126.05 , 126.58 , 127.08

Support levels: 125.06 , 124.59 , 124.03