FxWirePro :Buy GBPJPY on dips

Intra day Trend : Bullish

Ichimoku Analysis (hourly chart)

Tenken-sen- 142.68

Kijun-Sen- 142.71

Trend reversal level (intra day)- 143.01 (yesterday’s high)

The pair has shown a minor decline after a jump till 143.01. It has lost more than 50 pips and is currently trading around 142.79.

Any further bullishness can happen only if it breaks above 143.01. Break above targets 143.50/144.37 (61.8% fib).

On the lower side, near term support is around 142.50 (55- H EMA) and any violation below targets 142/141.78.

It is good to buy on dips around 142.75-80 with SL around 142.49 for the TP of 143.49/144.