Ichimoku Analysis (4 Hour Chart)
Tenken-Sen- 151.60
Kijun-Sen- 151.45
GBPJPY has shown a minor jump and holding above 151 on the strong Pound sterling. The pound sterling is trading above 1.3950 after the EU parliament approved the Brexit deal. The 660 was in favor, with five against and 32 absentees. Any jump above 1.4000 confirms a bullish continuation.sed Japanese yen selling. The minor sell-off in us bond yields is supporting the Japanese yen. The US 10-year yield lost more than 3% from a high of 1.659%.USDJPY is trading is slightly lower after forming a top around 109.08. Any violation above 109.15 confirms further bullish continuation. The intraday trend of GBPJPY is bullish as long as support 150.90 hold.
Technical:
The pair's near-term resistance around 151.98 (Apr 20th low,) any break above confirms that decline from 153.39 got completed at 148.50. On the lower side, near-term support is around 150.95. Any indicative violation below that level will drag the pair down to 150.30/150/149.30/148.40. Significant trend reversal only if it breaks below 147.40.
Ichimoku Analysis- The pair is trading well above 4 Hour Kijun-Sen and below Tenken-Sen, cloud. Any break above 151.98 confirms intraday bullishness.
Indicator (4-Hour chart)
CAM indicator –Bullish
Directional movement index –Bullish
It is good to buy on dips around 151 with SL around 150 for a TP of 153.
