FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (4-Hour Chart)

Tenken-Sen- 151.82

 Kijun-Sen- 151.62

Previous week high – 153.45

GBPJPY urged sharply and holding above 152 levels. The jump in Pound sterling against US dollar on board-based US dollar selling. Investors await US Nonfarm payroll for further direction. GBPUSD struggles to close above 1.3850 as UK PM Johnson tax hike fears and Brexit pessimism is putting pressure on the cable. The intraday trend of GBPJPY is bullish as long as support 151 holds.

USDJPY- Analysis

The pair regained 110 levels as Japanese PM Suga is likely to resign. Significant support is around 109.

Technical:

The pair's immediate resistance is around 152.50, any surge past targets153/153.50. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 151.80. Any indicative violation below targets 151.30/151/150.45/149/148.45.

 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 –Bullish

It is good to buy on dips around 152 with SL around 151.30 for a TP of 153.50.