FxWirePro- GBPJPY Daily Outlook
Ichimoku Analysis (1-Hour Chart)
GBPJPY has shown a minor pullback from yesterday's low 154.32. The jump in pound sterling is supporting the pair at lower levels. The number of people who have filed for jobless claims dropped to -92.6K in Apr compared to a forecast of 25K. The ILO unemployment rate fell to 4.7% from the previous month to 4.8%. GBPUSD recovered from a low of 1.40705. USDJPY has shown a minor jump above 110, any breach above 110.35 confirms further bullishness. It hits an intraday high of 155.48 and is currently trading around 155.27.
The pair's near-term resistance around 155.50 any break above confirms minor bullishness. A jump till 155.82/156.10/156.60 is possible. On the lower side, near-term support is around 154.90. Any indicative violation below that level will drag the pair down to 154.30/154/153.70/153. Significant trend reversal only if it breaks below 153.
Ichimoku Analysis- The pair is trading below hourly Kijun-Sen and above Tenken-Sen, cloud.
Indicator (1-Hour chart)
CAM indicator- Bearish
Directional movement index –Neutral
It is good to sell on rallies around 155.25-30 with SL around 156.10 for a TP of 153.