Ichimoku Analysis (4-Hour Chart)
Tenken-Sen- 150.99
Kijun-Sen- 150.82
Previous week high – 153.45
GBPJPY has taken support near 200-H MA and shown a minor pullback. The jump in pound sterling against US dollar after dovish comments from Fed Chairman Powell. GBPUSD is holding above 1.3750 levels. The spread of the delta variant virus and renewed Brexit tensions is putting pressure on the pound sterling at higher levels. The intraday trend of GBPJPY is neutral as long as resistance 151.75 holds.
USDJPY- Analysis
The pair has once again declined after a breach above the 110 level. The intraday resistance to be watched 110.25. Significant support is around 109.
Technical:
The pair's immediate resistance is around 151.75, any jump above targets 152/153. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 150.50. Any indicative violation below targets 150/149/148.45.
Ichimoku Analysis- The pair is trading above 4- hour Kijun-Sen and below Tenken-Sen
Indicator (4 Hour chart)
CAM indicator- Slightly Bullish
Directional movement index –Neutral
It is good to buy on dips around 150.55-60 with SL around 150 for a TP of 153.
