Ichimoku Analysis (4-Hours chart)
Tenken-Sen- 133.50
Kijun-Sen- 134.37
GBPJPY has shown a minor recovery after the jump to 133.24. The central bank has kept its rates unchanged at 0.1% and added another £100 billion bond-buying to support the U.K economy. GBP edged slightly towards 1.2450 after robust UK retail sales. It came at 12% mom compared to the estimate of 6.3%, better than the previous month -18.5%.
From the 4-hour chart, it shows that the pair is trading well below 200- EMA (133.43). Any break below 132.31 (trend line support) will drag the pair down to 131.78/130.
On the higher side, strong resistance is at 133.50, and the violation above will take the pair to 134.25/135/135.60/136.35.
It is good to sell on rallies around 133.50-55 with SL around 134.60 for the TP of 131.78/130.65.
