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FxWirePro: GBPJPY Daily Outlook

Ichimoku Analysis (4-hour Chart)

Tenken-Sen- 141.89

Kijun-Sen- 141.88                            

 

GBPJPY continues to trade higher for second consecutive days and jumped more than 100 pips from yesterday's low on strong pound sterling. GBPUSD hits fresh 32-month high on broad based US dollar selling. The Intraday trend of GBPJPY is bullish as long as support 141.25 holds.

Technical:

 The pair's significant resistance at 142.70 (trend line resistance and Sep 1st 2020 high), any convincing break above targets 143.75/144.95. On the lower side, near term support is around 141.70, and any violation below targets 141.20/140.35. Significant

 

It is good to buy on dips around 142 with SL around 141.20 for the TP of 144.    

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