FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (Hourly Chart)

Tenken-Sen- 149.03

Kijun-Sen- 148.98      

GBPJPY  has halted its five-day losing streak and shown a jump of more than 80 pips. The slight improvement in global risk sentiment due to positive US trial results on Oxford – AstraZeneca vaccine. USDJPY surged more than 50 pips from yesterday's low of 108.36. The ing weak and lost more than 250 pips yesterday due to the weak Pound sterling. GBPUSD is holding slightly above the 1.3700 level on minor sell-off in the US dollar. The intraday trend of GBPJPY is bearish as long as resistance 150.31 holds.

 Technical:

 The pair's near-term resistance around 149.35-50, any break above targets 149.80/150.31/151. On the lower side, near-term support is around 148.50. An indicative violation below will drag the pair down to 147.92/147.40. Significant trend reversal only if it breaks below 147.40.

Ichimoku Analysis- The pair is trading above hourly Tenken-Sen, Kijun-Sen, and below Ichimoku cloud. This confirms the intraday trend of slightly bullish                

Indicator (Hourly chart)

CAM indicator –Bullish

Directional movement index –Bearish

It is good to buy above 149.50 with SL around 149 for the TP of 150.50.