FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (Hourly Chart)

Tenken-Sen- 149.76

 Kijun-Sen- 149.71

Previous week high – 153.45

GBPJPY was one of the worst performers and lost more than 150 pips the previous week on Pound sterling weakness. The spread of delta variant and mixed UK data is putting pressure on Pound.  The number of cases in the UK rose by 32253 to 6492906. GBPUSD has taken support near 50-W MA. Any breach below 1.3570 confirms further bearishness.  The intraday trend of GBPJPY is bearish as long as resistance 150.60 holds.

USDJPY- Analysis

It has shown a minor pullback from a low of 109.48. The intraday resistance to be watched 110.25. Significant support is around 109.

Technical:

The pair's immediate resistance is around 150.22, any jump above targets 150.60/151/151.55. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 149.90. Any indicative violation below targets 148/147.40.

 Ichimoku Analysis- The pair is trading below Kijun-Sen and Tenken-Sen.

 Indicator (Hourly chart)

 CCI (50)-Bullish

Directional movement index –Bearish

It is good to sell on rallies around 150.25-30 with SL around 151 for a TP of 149.