FxWirePro: gbpjpy breaks major resistance 141.50 after long consolidation, jump till 145 likely
Source: FxWire Pro - Technicals / 01 Dec 2019 09:29:43 America/New_York
Ichimoku Analysis (1- hour chart)
GBPJPY has broken major resistance 141.57 after a long consolidation of more than 1-month. It hits an intraday high of 141.80 and is currently trading around 141.45.
The jump was mainly due to a sharp jump in Pound sterling on Brexit optimism. The YouGov predicts a Conservative would win 359 seats in the upcoming UK. GBPUSD has jumped more than 100 pips till 1.29505 from a low of 1.28270.
On the higher side, near-term resistance is around 141.80 and any indicative break beyond targets 142.50/143.25/145.
The major support is around 139, any break beneath will drag the pair till 138/137.25.
It is good to buy on dips around 141.40-45 with SL around 140.60 for the TP of 143.25/145.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.