Ichimoku Analysis (Daily chart)
Tenken-Sen- 138.52
Kijun-Sen- 137.36
GBPJPY continues to trade higher on the strong pound sterling. GBPUSD holds above 1.3350 on hopes of a Brexit deal. According to JP Morgan, there is an 80% chance of a Brexit deal up from two-thirds. The deal's major barriers are fishing rights, level playing field, and governance. Markets eye Rishi Sunak spending review today for further direction.
Technical:
The pair is facing strong resistance 140.31, break above confirms bullish continuation. A jump to 142.71/143 is possible. On the lower side, near term intraday support is around 138.60, and any indicative break below will drag the pair to 138/137.60/137.19.
It is good to buy on dips around 139 with SL around 138.55 for the TP of 140.30.
