FxWirePro: GBPJPY Daily Outlook
Ichimoku Analysis (Daily chart)
Tenken-Sen- 139.30
Kijun-Sen- 137.78
GBPJPY has recovered more than 100 pips in hopes of a Brexit deal. UK PM Boris Johnson will be traveling to Brussels this week to discuss the Brexit deal. GBPUSD trades well below 1.3400 on Brexit uncertainty and a slight recovery in the US dollar. The intraday trend of GBPJPY is bullish as long as 137.19 holds.
Technical:
The pair has taken support near 55-day EMA at 137.90; a break below will drag down till 137/135.53 is possible. On the higher side, near term resistance is around 139.40 and any indicative break above will drag the pair to 140/140.70.
It is good to buy on dips around 138 with SL around 137 for the TP of 140.65.
