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Long GBPJPY: Buy on dips:FxWirePro | September 11, 2018

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Overall trend: Bullish

Ichimoku Analysis (HOURLY chart)

Tenken-sen- 144.97

Kijun-Sen- 144.18

Trend reversal level (intra day) - 145.30

GBPJPY 0.38% has recovered sharply and jumped more than 250 pips on optimistic comment by EU chief negotiator Barnier on Brexit. Barnier has mentioned that deal between EU and UK will be signed within six weeks. GBP/USD 0.09% hits 5 –week high and trades well above 1.3000 level. It hits high of 1.30542 and is trading around 1.30280.

GBPJPY 0.38% hits high of 145.29 and shown a minor decline from that level. Any minor break above 145.29 confirms intraday bullishness and a jump till 145.68 (Aug 30th high)/146/147.

On the lower side, 144.55 will be acting as near term support and any break below targets 144.07/143 in the short term.

It is good to buy on dips around 144.55-60 with SL around 144 for the TP of 145.68/146.


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