Ichimoku Analysis (Hourly Chart)
Tenken-Sen- 134.61
Kijun-Sen- 134.34
GBPJPY is holding above 134 levels on the strong pound sterling. GBPUSD recovered more than 50 pips on Brexit talk's optimism. The UK Spokesperson said that Britain and the EU had useful talks in the previous week. Any violation above 1.2800 confirms bullish continuation. The intraday trend of GBPJPY is slightly bullish as long as support 134 holds.
The pair is facing strong resistance around 134.87 (200- EMA) and any violation above that level will take till 136/136.60 (Sep 14th high) likely. It is facing strong support at 134, any indicative below that level targets 133/131.75.
It is good to sell on rallies around 134.55-60 with SL around 135.10 for the TP of 131.75.
