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Ichimoku Analysis (4-Hour chart)
Tenken-Sen- 129.42
Kijun-Sen- 128.02
GBPJPY continues to trade higher after showing a dip to 127.42. The pair hit a high of 131.93 yesterday and is currently trading around 131.69. The demand for riskier assets came after the US Senate agreed with White house on a $2tn corona package. It is currently trading around 131.78.
On the higher side, near–term resistance is around 132.05 and any violation above will take the pair to next level till 133.80/134.50.
The immediate support is around 130.99 and the indicative break below targets 130/129.45/128.
It is good to buy on dips around 131 with SL around 130 for the TP of 133.80/134.25.
