Ichimoku Analysis (Hourly Chart)
Tenken-Sen- 140.99
Kijun-Sen- 140.92
GBPJPY surged more than 150 pips from a low of 139.514 on weak yen. The yen lost its ground against all major on easing safehaven demand and rising US yield. GBPUSD lost more than 50 pips from a multi month high of 1.35885. The intraday trend of GBPJPY is bullish as long as support 140.25 holds.
Technical:
The pair's significant resistance at 141.30, any indicative break above targets 142/142.70. Significant trend continuation only if it goes past 142.70. On the lower side, near term support is around 140.60, and any violation below targets 140.25/139.75/139.40.
It is good to buy on dips around 140.55-60 with SL around 140 for the TP of 142.70.
