GBPJPY intraday technical analysis - 11/12/2017

GBPJPY

1.34094 / 1.34103

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Downtrend formation remains strong on the medium-term perspective, however upside progress is possible today. Loss of resistance at 1152.06 (R1) is required to open path towards to higher target at 152.72 (R2) and then final aim is seen at 153.39 (R3) today.
Downwards scenario: In terms of technical levels, risk of possible price depreciation is seen below the support level at 151.40 (S1). Loss here would suggest next targets at 150.62 (S2) and 149.87 (S3) in potential.

Resistance levels: 152.06 , 152.72 , 153.39

Support levels: 151.40 , 150.62 , 149.87