GBPJPY intraday technical analysis - 16/02/2018

GBPJPY

1.41343 / 1.41353

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Downside structure remains in focus on the short-term, however break of our initial resistance at 149.81 (R1) could enable recovery process and suggest next interim aim 150.28 (R2). Final resistance is seen today at important fractal level – 150.79 (R3).
Downwards scenario: Further downside extension is limited now to the key support level at 149.18 (S1). Break here is required to open a route towards to lower aim at 148.66 (S2) and then any further market weakening would be targeting final support at 148.13 (S3).

Resistance levels: 149.81 , 150.28 , 150.79

Support levels: 149.18 , 148.66 , 148.13