Ichimoku analysis (Hourly chart)
Tenken-Sen- 143.32
Kijun-Sen- 143.07
GBPJPY recovered sharply from the low of 142.65 on the strong Pound sterling. It has halted its 3 days of losing streak on weak US dollar and jumped more than 100 pips amid dismal UK GDP data. GBPJPY hits an intraday high of 143.49 and is currently trading around 143.40.
On the higher side, near term resistance is around 143.50 and any indicative break over targets 144.36. Major bullish continuation only above 144.36.
The significant support is around 142, a violation under will take the pair down till 140.80/140.
It is good to buy above 143.50 with SL around 143 for the TP of 144.36/144.50.
