FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (Hourly Chart)

Tenken-Sen- 153.27

Kijun-Sen- 153.14      

GBPJPY is trading extremely higher and holding above 153 levels. The pair hits a high of 153.41 and currently trading around 153.314. The jump in Pound sterling is supporting the pair at lower levels. GBPUSD regains 1.3900 on easing the UK lockdown restrictions and high vaccine rollout.USDJPY lost more than 100 pips from a high of 110.96. Any violation below 109.90 confirms further bearishness. The intraday trend of GBPJPY is bullish as long as support 152.20 holds.

 Technical:

 The pair's near-term resistance around 153.55, any break above targets 154/155. On the lower side, near-term support is around 153.20. An indicative violation below will drag the pair down to 152.88/152.15/151.80. Significant trend reversal only if it breaks below 147.40.

Ichimoku Analysis- The pair is trading above 1-hour Kijun-Sen, Ichimoku cloud, and slightly below the cloud. Any break below 152.85 confirms intraday bearishness.     

Indicator (1Hour chart)

CAM indicator –Neutral

Directional movement index –Neutral

It is good to sell below 152.85 with SL around 153.40 for the TP of 151.20.