Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 133.52
Kijun-Sen- 133.49
GBPJPY recovers once again from a low of 132.91 made yesterday. The pair is trading in a narrow range between 134.72 and 132.52 for the past 1-week. The overall trend is neutral as long as resistance 135.10 holds.
On the higher side, near-term major resistance is around 134.75-135.07 (Mar 27th high and 200-H MA) and any violation above will take the pair to next level till 136/136.90.
The immediate resistance is around 133.40 and any indicative break below will drag the pair to the next level till 132.90/132.50.
It is good to buy above 135.10 with SL around 134.50 for TP of 137.
