Ichimoku Analysis (4-hour chart)
Tenken-Sen- 134.54
Kijun-Sen- 133.95
GBPJPY has once again recovered after a minor decline till 134.67. The intraday trend is bullish as long as support 134.35 holds. The slight jump was mainly due to strength Pound sterling, especially against USD. Any violation above 1.2450 will take the pair till 1.2600.
On the higher side, near-term major resistance is around 135.37 high made yesterday and any violation above will take the pair to next level till 136/136.90.
The immediate resistance is around 134.60 and any indicative break below will drag the pair to the next level till 134/133.70. Major bearishness only below 132.50.
It is good to buy on dips around 134.80-85 with SL around 134.35 for TP of 136.90.
