FxWirePro: NZD/JPY Interim Rallies Seem Deceptive, Major Downtrend Still Intact In Falling Wedge – Trading & Hedging Setup
FxWirePro: Buy GBPJPY on Dips
Ichimoku Analysis (4-hour chart)
GBPJPY has once again declined after hitting a high of 134.70 yesterday. GBP is trading slightly higher against USD from low of 1.24394. Markets eye EU and UK deal in London after huge differences in Brussels meeting. Any break above 1.2530 confirms further bullishness.
The 4-hour chart shows that the pair is trading above 200- and 100- day MA (133.99). The near term resistance is around 134.70, any close above will take the pair to next level till 135.25/135.75/136.35.
On the lower side, strong support is at 133, and the violation below that level targets 132/131.75.
It is good to buy on dips around 134 with SL around 133 for the TP of 136.35.