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Ichimoku analysis (Hourly chart)
Tenken-Sen- 134.68
Kijun-Sen- 134.98
GBPJPY has halted its 2- weeks of winning streak and showing a minor weakness. The pair jumped more than 900 pips on account of the strong Pound sterling. The yen also trading slightly weak on easing the US-China trade war. It hits a high of 135.66 and is currently trading around 134.43.
Technically, near term support is around 134.25 and any violation below will drag the pair till 133.70/133.
On the higher side near term, resistance is at 135.02 and break above targets 135.66/136.28. Any violation above 136.28 will take the pair till 137/137.75.
It is good to sell on rallies around 135-135.05 with SL around 135.65 for the TP of 133.
