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  |   Technicals


FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (1-Hour Chart)


Tenken-Sen- 151.28


 Kijun-Sen- 151.20


Major Intraday resistance -151.80

Intraday support- 151.30


GBPJPY has formed a double bottom around 150.80 and shown a nice recovery of more than 80 pips on the weak Japanese Yen. The pound sterling has shown a minor weakness against the US dollar after weak UK retail sales. It dropped by 0.9% in August compared to a forecast of 0.5%. The intraday trend of GBPJPY is bullish as long as support 150.80 holds.


USDJPY- Analysis

The pair has once again taken support near 109 and recovered sharply on the strong US dollar. The overall trend is bearish as long as resistance 110.80 holds.



The pair's immediate resistance is around 151.81, any surge above targets 152.30/152.85/153/153.50/154.10. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 150.80. Any indicative violation below targets 150.45/150/149.


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


 Indicator (Hourly chart)


CAM indicator-  Slightly bullish


Directional movement index –Neutral


It is good to buy above 151.80 with SL around 151.30 for a TP of 153.50.

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