Major resistance - 139.50 (100- 4H EMA and Trend line resistance)
Ichimoku Analysis (4 hour chart)
Tenken-Sen- 138.60
Kijun-Sen- 138.51
GBPJPY has shown a minor recovery after hitting low of 138.60 level.The pair has taken support near Kijun-Sen and any minor weakness only below that level.Markets eye UK Brexit vote in Parliament tomorrow for further direction. It is currently trading around 139.07.
On the higher side, any convincing close above 139.50 confirms further bullishness, a jump till 140/141.80 likely.
The near term support is around 138.60 and any violation below targets 138/137.44/137.
It is good to buy above 139.50 with SL around 138.60 for the TP of 141.80.
