GBPJPY intraday technical analysis - 23/08/2017

GBPJPY

1.28192 / 1.282

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Instrument remains under the bearish pressure on the bigger picture, however we see potential to overcome our resistive barrier at 140.41 (R1) later on today. Clearance here would suggest next intraday targets at 140.83 (R2) and 141.31 (R3) in potential.
Downwards scenario: Next support level is seen at 139.87 (S1). Break here is required to clear the way towards to next target at 139.45 (S2). Final support for today is seen at 139.02 (S3).

Resistance levels: 140.41 , 140.83 , 141.31

Support levels: 139.87 , 139.45 , 139.02