EURJPY intraday technical analysis - 18/10/2017

EURJPY

1.31791 / 1.31798

SUMMARY

Up

TREND

Upward penetration

MA10

Bullish

MA20

Bullish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Our technical outlook for the medium-term perspective remains bullish oriented. Clearance of next resistance level at 132.50 (R1) would enable bullish pressure and open route towards to our next targets at 132.87 (R2) and 133.23 (R3).
Downwards scenario: On the other hand, our next support level aligns at 131.99 (S1) and possible price regress below it might encounter downside rally. In such scenario we would suggest next intraday targets to be placed at 131.65 (S2) and 131.30 (S3).

Resistance levels: 132.50 , 132.87 , 133.23

Support levels: 131.99 , 131.65 , 131.30