FxWirePro- GBPJPY Daily Outlook

Ichimoku Analysis (1-Hour Chart)

Tenken-Sen- 151.26

 Kijun-Sen- 151.72

Major Intraday resistance -150.90

Intraday support- 149

GBPJPY continues to trade lower after a minor pullback above 200-H MA. The pair has declined below 150 levels on the weak Pound sterling. GBPUSD is trading well below 200-day MA, any dip to 1.3600 is possible. The intraday trend of GBPJPY is bearish as long as resistance 151 holds.

USDJPY- Analysis

The pair has once again jumped above 110 levels on the risk aversion. The overall trend is bearish as long as resistance 110.80 holds.

Technical:

The pair's immediate resistance is around 150.65, any surge above targets 151.30/152/152.85/153.50. Significant bullish continuation if it breaks 153.50. On the lower side, near-term support is around 149.80. Any indicative violation below targets 149/148.40/147.40.

 Ichimoku Analysis- The pair is trading below 4-hour Kijun-Sen and below Tenken-Sen

 Indicator (4-Hour chart)

CAM indicator- Bearish

Directional movement index –Bearish

It is good to sell on rallies around 150.55-60 with SL around 151.20 for a TP of 147.55.