EURJPY intraday technical analysis - 23/08/2017

EURJPY

1.28192 / 1.282

SUMMARY

Up

TREND

Upward penetration

MA10

Bearish

MA20

Bullish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: To enable further upwards formation, price needs to clear resistive barrier at 129.06 (R1). In such case we would suggest next target at 129.41 (R2) and then any further price progress would face final resistance at 129.75 (R3)
Downwards scenario: On the downside we see potential to positively retest our initial support measure at 128.62 (S1). Clearance here is required to open route towards to our intraday targets at 128.26 (S2) and 127.88 (S3) in potential.

Resistance levels: 129.06 , 129.41 , 129.75

Support levels: 128.62 , 128.26 , 127.88