Ichimoku Analysis (4-Hours chart)
Tenken-Sen- 132.50
Kijun-Sen- 134.05
GBPJPY has shown a minor recovery after a minor dip to 131.75. The pound sterling was trading weak against USD amid strong retail sales. Any break above 1.2410 will confirm intraday bullishness.
The pair has jumped after a minor dip below trend line support at 132.39. Any break below 131.75 (May 29th low) will drag the pair down to 130.60/130.
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.
