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Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 139.17
Kijun-Sen- 138.42
GBPJPY continues to trade higher for second consecutive days and jumped more than 150 pips on the strong Pound sterling. GBPUSD is trading above 1.3500 on Brexit optimism. UK flash manufacturing PMI came at 57.0 vs estimate 55.90. The intraday trend of GBPJPY is bullish as long as resistance 139 holds.
Technical:
The pair is struggling to close above 140 level. Any convincing break above targets 140.50/141/141.80. On the lower side, near term support is around 139.50, and any indicative break below targets 139/138.25/137.19.
It is good to buy on dips around 139.55-60 with SL around 139 for the TP of 141.
