FxWirePro: Buy GBPJPY on dips
Ichimoku Analysis (Hourly chart)
Tenken-Sen- 139.54
Kijun-Sen- 139.68
GBPJPY declined slightly after showing a minor jump above 140 level. The optimism in Brexit talks is supporting the Pound sterling. UK's Chief negotiator David Frost said that Brexit deal is possible next month. USDJPY is directionless and traders' eye 107 level further jump till 107.55. The Intraday trend is still on the higher side as long as support 138.90 holds.
The hourly chart shows that the pair is holding above 200-MA at 138.95, any surge past 140.20 targets 140.80/141.92. The near term support is around 138.95, any break below will drag the pair down till 138.60/138.20/137.40.
It is good to buy on dips 139.15-20 with SL around 138.50 for the TP of 141.05.
