FxWirePro: EUR/JPY 6-day bearish streak finds support at 55-EMA, break below eyes trendline support at 124.55
FxWirePro: USD/JPY grinds sideways at trendline resistance, US dollar barely moves in response to Biden's aggressive stimulus plan
FxWirePro: GBPJPY Daily Outlook
Ichimoku Analysis (Hourly chart)
GBPJPY is trading slightly higher on the strong Pound sterling. GBPUSD surged more than 40 pips in the UK session on upbeat comments from Raas on Brexit. The COVID vaccine optimism is also dragging the US dollar down. The intraday trend of GBPJPY is neutral as long as 138 holds. USDJPY continues to trade weak after forming a minor top at 104.76.
The pair is facing strong intraday resistance 139.20, break above confirms minor bullishness. A jump to 139.85/140.31 is possible. On the lower side, near term support is around 138.49 and any indicative break below will drag the pair to 138.20/138/137.60/137.19.
It is good to sell on rallies around 139.15-20 with SL around 140 for the TP of 137.