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FxWirePro: GBPJPY struggles to close above 200-day MA, good to sell on rallies
Ichimoku Analysis (Daily chart)
GBPJPY has halted its 5-days of a winning streak and lost nearly 100 pips on the weak pound sterling. GBP is trading weak against USD on Brexit concerns. Any break below 1.2500 confirms further weakness.
The daily chart shows that the pair is trading below 200-day MA (137.20). The near term support is around 136.10 (100- day MA), any close below will take the pair to next level till 135.48/135/134.40/133.70.
On the lower side, strong resistance is at 137.39 (200- day MA), and the break above will take the pair till 138/140.
It is good to sell on rallies around 136.85-90 with SL around 137.40 for the TP of 135/133.70.