• FxWirePro: gbpjpy daily outlook

    Source: FxWire Pro - Technicals / 22 Nov 2020 11:41:36   America/New_York

    Ichimoku Analysis (4 Hour chart)

     

    Tenken-Sen- 137.59

     

    Kijun-Sen- 138.03

     

    GBPJPY is still on the bearish trend and any violation above 138.86 for the intraday confirms minor bullishness. The chance of no-deal Brexit is putting pressure on Pound sterling at higher levels. Markets eye UK retail sales data which is to be released today for further direction. USDJPY is holding below 104, dip till 103.18 possible. 

     

    Technical:

    In the 4-hour chart, GBPJPY is facing strong support at 136.89 (200- EMA), and any convincing break below targets 136/135. On the higher side, near term intraday resistance is around 138, and any indicative break above that level targets 138.60/139.

     

    It is good to sell on rallies around 138.95-39 with SL around 140 for the TP of 136.60.   

     

     

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