Ichimoku Analysis (Daily chart)
Tenken-Sen- 139.93
Kijun-Sen- 138.30
GBPJPY is trading higher for 2nd consecutive days and jumped more than 100 pips on the strong Pound sterling. GBP was one the best performer for the past one week against the USD on broad-based dollar selling. But uncertainty in Brexit talks and new tax issues is putting pressure on GBP at higher levels. The intraday trend of the Pound/Yen is bullish as long as 140 holds.
The daily chart shows that the pair has taken support at Tenken-Sen. Any break below 139.93 will take pair till 139.12/138.25. The near term resistance is around 141.80, any break above targets 143./144.80.
It is good to buy on dips around 140.75-80 with SL around 140 for the TP of 142/143.
