Ichimoku Analysis (1- Hour chart)
Tenken-Sen- 139.15
Kijun-Sen- 139.50
GBPJPY has shown a minor recovery from a low of 138. The jump in pound sterling against USD was mainly due to the possibility of a Brexit deal. GBPUSD is holding above 1.3400, any violation above 1.35000 confirms trend continuation. Markets eye Brexit talks and virus update for further direction. The intraday trend of GBPJPY is bullish as long as support 137.96 holds.
Technical:
The pair's significant resistance at 139.06 (200- H MA), any indicative break above targets 139.65/140/140.70. Any indicative break above 140.70 confirms trend continuation, a jump till 141.50/142. On the lower side, near term support is around 138.55, and any violation below targets 138.25/137.95/137.19/136.75.
It is good to buy on dips around 138.75-80 with SL around 138.25 for the TP of 140.70.
