Ichimoku Analysis (Daily chart)
Tenken-Sen- 142.59
Kijun-Sen- 144.38
GBPJPY recovered sharply after forming a minor bottom around 140.81 yesterday. It has jumped more than 200 pips till 143.29 at the time of writing and is currently trading around 143.13.
The recovery was mainly due to jumping in Pound Sterling especially against USD as parliament resumes Brexit debate. It has surged more than 100 pips form low of 1.30534 till 1.32125.
On the flip side, near term resistance is around 143.30 (trend line resistance) and any indicative break above targets 144.36/145.29.
The major support is around 142, violation below will take the pair down till 140.85 (55- day EMA)/140.
It is good to buy on dips around 142.75-80 with SL around 142 for the TP of 145.
