FxWirePro: GBPJPY Daily Outlook
Ichimoku Analysis (hourly chart)
Tenken-Sen- 135.52
Kijun-Sen- 135.715
GBPJPY recovered sharply and jumped more than 80 pips from an intraday low of 135.08. The pound sterling surged sharply against the US dollar on hopes of Biden winning the election and stimulus package by BOE. The Bank of England is to expand QE by £ 100 billion in a monetary policy meeting today. The intraday trend is slightly bullish as long as support 134.80 holds.
Technical:
In the 60 min chart, GBPJPY is struggling to close above 200 MA and any convincing break will take the pair till 136.60/137/137.38.
On the lower side, near term intraday support is around 135.60, and any indicative break below that level targets 135.37/135.20/134.80/134.
It is good to buy on dips around 135.50-55 with SL around 135 for the TP of 136.45.
