FxWirePro: GBPJPY Daily Outlook

FxWirePro: GBPJPY Daily Outlook

FxWirePro: GBPJPY Daily Outlook
Ichimoku Analysis (Hourly Chart)

Tenken-Sen- 147.77

Kijun-Sen- 147.91                          
 
GBPJPY took support near 100- H MA and jumped more than 50 pips on the strong Pound sterling. GBPUSD is holding above 1.40 level, market eyes UK jobs data to be released today for further direction.USDJPY is trading weak for the past four days and lost more than 100 pips. The intraday trend of GBPJPY is bullish as long as 147.20 holds.
 
Technical:
 The pair is facing significant resistance at 148.80, a jump till 150/151.20 possible. On the lower side, near-term support is around 147.20. An indicative break below will drag the pair down to 146.80/146.30. Significant trend reversal only below 144. A violation below will drag the pair to 142.80.
 
Indicator (Hourly chart)
 
CAM indicator –Neutral
 
Directional movement index – Neutral 
 
It is good to buy on dips around 147.50-55 with SL around 147 for the TP of 150.