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Ichimoku Analysis (Weekly Chart)
Tenken-Sen- 137.80
Kijun-Sen- 137.33
GBPJPY hits three weeks high at 141.21 on the strong pound sterling. GBPUSD was one of the best performers the previous week after the EU and UK reached a post-Brexit deal. The pair is holding well above the 1.3500 level, any violation above 1.3625 confirms bullish continuation. The intraday trend of GBPJPY is bullish as long as support 139.50 holds.
Technical:
The pair's significant resistance at 141.20, 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 140, and any violation below targets 139.40/139/137.95/137.19/136.75.
It is good to buy on dips around 140 with SL around 139 for the TP of 142.70.
