Ichimoku Analysis (Hourly chart)
Tenken-Sen- 140.03
Kijun-Sen- 139.705
GBPJPY is holding above 140 levels on the strong Pound sterling. GBPUSD trades well above 1.3400 as UK approves Pfizer and BioNtech COVID-19 vaccine. The broad-based US dollar selling on upbeat global sentiment. US ISM manufacturing index came at 57.5 in November slightly less than the estimate of 58. UK final manufacturing PMI surged to 55.6 in November vs forecast of 55.2. The intraday trend of GBPJPY is bullish as long as 139 holds.
Technical:
The pair has broken significant resistance 140.31; a jump till 141/142/142.71 is possible. On the lower side, near term support is around 139 and any indicative break below will drag the pair to 138.75/138.49/138.20/138.
It is good to buy on dips around 139 with SL around 138 for the TP of 142.70.
