FxWirePro: GBPJPY struggles to close above 149 level, good to sell on rallies

Ichimoku analysis (1 Hours chart)

Tenken-Sen - 148.61

Kijun-Sen - 148.10

GBPJPY trading higher for fourth consecutive day and jumped more than 500 pips from low of 142.77 . GBP was trading higher against all pairs especially USD and jumped more than 350 pips on Brexit deal hopes and Democrats take house in US midterm elections . The pair hits high of 148.90 and is currently trading around 148.43.

Intraday bias is bullish as long as support 147.80 (89 H EMA) holds. Any break below 147.80- targets 147.30/146.50 .

The near term resistance is around 149.30 and any break above 149.70/150. Any break above 150 confirms bullish continuation.

It is good to sell on rallies around 148.75-80 for the TP of 149.70 for the TP of 147.30.