Ichimoku Analysis (Hourly chart)
Tenken-Sen- 132.98
Kijun-Sen- 133.13
GBPJPY is trading in a narrow range between 133.98 and 132.68 for the past three days. The intraday trend is neutral as long as support 132.60 holds. The Pound sterling continues to trade lower for 2nd consecutive days against USD. The demand for Safe-haven assets like the US dollar increased after surge new number of coronavirus cases.
The pair is facing strong resistance at 133.51. Any break above will drag to the next level till 134/135/135.75/136.35.
On the lower side, strong resistance is at 132.60, and the violation below will take the pair to 131.75/130.60.
It is good to sell below 132.60 with SL around 133.25 for the TP of 130.60.
