FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (1-Hour Chart)

 Tenken-Sen- 153.90

 Kijun-Sen- 153.99

GBPJPY has halted its three days of weak trend and shown a nice recovery of more than 50 pips. The pound sterling lost more than 100 pips after the dovish Bank of England.  GBPUSD has recovered and holding above 1.39000 levels on Brexit optimism and reopening of UK by Jul 19th. USDJPY is consolidating after a minor jump above 111.116. Any surge past 111.20 targets 112. GBPJPY hits an intraday high of 154.22 and is currently trading around 154.094.

 Technical:

 The pair's near-term resistance around 154.55, any break above confirms intraday bullishness. A jump till 155.15/155.50/156.10. Major trend reversal only if it breaks 156.60. On the lower side, near-term support is around 153.50. Any indicative violation below that level will drag the pair down to 153/152/151.30. Significant trend reversal only if it breaks below 147.40.

Ichimoku Analysis- The pair is trading above Hourly  Kijun-Sen, Tenken-Sen, cloud.

Indicator (1-Hour chart)

CAM indicator- Neutral

Directional movement index –Neutral 

It is good to sell on rallies around 154.50-55 with SL around 155.15 for a TP of 153.