Ichimoku Analysis (4-hour Chart)
Tenken-Sen- 141.36
Kijun-Sen- 141.06
GBPJPY hits a 3-1/2 month high from a low of 133.04 on the strong pound sterling. GBPUSD is hovering near multi-year high; any violation above 1.3700 confirms trend continuation. BOE Bailey has ruled out negative interest rates also supported Pound sterling at lower levels. The intraday trend of GBPJPY is bullish as long as support 140.65 holds.
Technical:
The pair's significant resistance at 142, any indicative break above targets 142.70. Significant trend continuation only if it goes past 142.70.A jump till 144/145 likely. On the lower side, near term support is around 141, and any violation below targets 140/139.75/139.40.
It is good to buy on dips around 141.20-25 with SL around 140.55 for the TP of 142.70.
