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Ichimoku Analysis (4 -Hourly chart)
Tenken-Sen- 133.20
Kijun-Sen- 132.87
GBPJPY has once again declined after a minor jump above 200-4H MA. The intraday trend is slightly on the lower side as long as resistance 134 holds. The Pound sterling is weak against all majors especially, USD and lost more than 150 pips from minor top 1.25426. Markets eye face to face talks between the UK and EU for further direction.
The pair is facing primary resistance at 134. Any break above will drag to the next level till 134/135/135.75/136.35. Significant buying can be seen only if it breaks 136.25.
On the lower side, primary support is at 132.60, and the violation below will take the pair to 131.75/130.60.
It is good to sell on rallies 133.10-15 with SL around 134 for the TP of 131.75/130.60.
