FxWirePro: USD/JPY slips lower for the 4th straight session, BoJ’s upbeat economic assessment underpins yen
FxWirePro: GBPJPY trades flat, break above 139.20 targets 140.40
Ichimoku Analysis (1-Hour chart)
GBPJPY is trading flat after hitting a high of 139 yesterday. The intraday trend is still on the higher side as long as support 138. GBPUSD hits 4-month high after BOE policy decision. It has kept its rates unchanged and upgraded its GDP. The central bank mentioned that negative interest rates will not stimulate the economy in the current situation.
The hourly chart shows that the pair is holding well above 100- H MA (138.37). The near term resistance is around 139.20, any break above will take the pair to 139.75/141.80.
On the lower side, near-term support is around 138, and any violation below targets 137.50/136.60/135.80/135.
It is good to buy above 139 with SL around 138 for the TP of 141.