GBPJPY intraday technical analysis - 19/10/2018

GBPJPY

1.30247 / 1.30255

SUMMARY

Up

TREND

Upward penetration

MA10

Bullish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Appreciation above the resistance level at 146.73 (R1) might prolong upside progress. In such scenario we would suggest next intraday target at 147.23 (R2) and any further rise would then be limited to final resistance at 147.74 (R3).
Downwards scenario: Our next support level is placed at 146.28 (S1). Surge lower that level is liable to initiate bearish pressure and expose our intraday targets at 145.81 (S2) and 145.35 (S3) later on today.

Resistance levels: 146.73 , 147.23 , 147.74

Support levels: 146.28 , 145.81 , 145.35