• 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)


    Tenken-Sen- 141.55


    Kijun-Sen- 140.95


    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.

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