FxWirePro: GBPJPY struggles to break above 200-H EMA, dip till 131.75 likely
Ichimoku Analysis (Hourly Chart)
GBPJPY has shown a nice jump till 134.82 on a slight surge in Pound sterling. GBPUSD crossed 1.2800 level after UK FM announced more job protection plans and optimism on the Brexit deal. But strong US dollar has dragged the pound sterling well below 1.2750 level. The overall trend of GBPJPY is weak as long as resistance 135 holds.
The pair is holding well below 200 H EMA and any break above 134.96-135 confirm intraday trend reversal. A jump till 136/136.60 (Sep 14th high) likely. It is facing strong support at 133, any violation below that level targets 131.75.
It is good to sell on rallies around 134.55-60 with SL around 135.10 for the TP of 131.75.