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Ichimoku Analysis (1 hour chart)
Tenken-Sen- 134.72
Kijun-Sen- 135.44
GBPJPY is showing a massive recovery after a huge sell-off yesterday. The pair jumped almost 400 pips from yesterday low of 131.43. It is currently trading around 135.50.
The pair is trading slightly above Tenken-Sen and Kijun-Sen and near term resistance is around 136 (20- H MA) and any break above targets 137.65 (55- H EMA)/138.40 (89- H EMA).
The near term support is around 133.85 and any violation below targets 132/131.40.
It is good to sell on rallies around 136 with SL around 137.60 for the TP of 130.
