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FxWirePro: GBPJPY breaks major resistance 141.50 after long consolidation, jump till 145 likely

Ichimoku Analysis (1- hour chart)

 

Tenken-Sen- 141.55

 

Kijun-Sen- 140.95

 

GBPJPY has broken major resistance 141.57 after a long consolidation of more than 1-month. It hits an intraday high of 141.80 and is currently trading around 141.45.

 

The jump was mainly due to a sharp jump in Pound sterling on Brexit optimism. The YouGov predicts a Conservative would win 359 seats in the upcoming UK. GBPUSD has jumped more than 100 pips till 1.29505 from a low of 1.28270.

 

On the higher side, near-term resistance is around 141.80 and any indicative break beyond targets 142.50/143.25/145.

 

The major support is around 139, any break beneath will drag the pair till 138/137.25.

 

It is good to buy on dips around 141.40-45 with SL around 140.60 for the TP of 143.25/145.

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