FxWirePro- GBPJPY Daily Outlook
Ichimoku Analysis (1-Hour Chart)
Major Intraday resistance -150.90
Intraday support- 149
GBPJPY continues to trade lower after a minor pullback above 200-H MA. The pair has declined below 150 levels on the weak Pound sterling. GBPUSD is trading well below 200-day MA, any dip to 1.3600 is possible. The intraday trend of GBPJPY is bearish as long as resistance 151 holds.
The pair has once again jumped above 110 levels on the risk aversion. The overall trend is bearish as long as resistance 110.80 holds.
The pair's immediate resistance is around 150.65, any surge above targets 151.30/152/152.85/153.50. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 149.80. Any indicative violation below targets 149/148.40/147.40.
Ichimoku Analysis- The pair is trading below 4-hour Kijun-Sen and below Tenken-Sen
Indicator (4-Hour chart)
CAM indicator- Bearish
Directional movement index –Bearish
It is good to sell on rallies around 150.55-60 with SL around 151.20 for a TP of 147.55.