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.
