FxWirePro: Sell GBPJPY on rallies
Ichimoku Analysis (hourly chart)
Tenken-Sen- 140.66
Kijun-Sen- 140.72
GBPJPY is trading slightly lower after a 2-weeks of bullishness. The pair has jumped more than 1000 pips on the strong pound sterling. It hits a high of 141.50 and is currently trading around 140.47.
The pound sterling was trading higher against all majors on Brexit optimism and hits 6-month high vs USD. Any close above 1.3000 confirms further bullishness.
On the lower side, near term support is around 139.95 and any break below will drag the pair till 139/137.90.
The near-term resistance is around 141.50 and any break above will take the pair to the next level till 142.60/143.
It is good to sell on rallies around 140.70-75 with SL around 141.35 for the TP of 138.
