Ichimoku Analysis (4- Hour chart)
Tenken-Sen- 139.16
Kijun-Sen- 138.70
GBPJPY hits one week high on Brexit deal optimism. The UK and EU are nearing a deal after long negotiations. The deal is expected to be announced today on Christmas eve, according to UK government sources. GBPUSD trades above 1.3500 levels, any violation above 1.3625 confirms significant bullishness. The intraday trend of GBPJPY is bullish as long as support 139.50 holds.
Technical:
The pair's significant resistance at 140.70, any indicative break above targets 141.43/142/142.70. Significant trend continuation only if it goes past 142.70. On the lower side, near term support is around 139.50, and any violation below targets 139/138.25/137.95/137.19/136.75.
It is good to buy on dips around 140 with SL around 139.50 for the TP of 141.40.
