Ichimoku Analysis (4-hour Chart)
Tenken-Sen- 135.16
Kijun-Sen- 134.68
GBPJPY is trading higher for 5th consecutive days on the strong Pound sterling. The increasing hopes of the Brexit trade deal before the EU summit in mid-October is supporting Pound at lower levels. GBPUSD hits a high of 1.29299 and shown a 100 pips decline. Markets eye final round of EU and UK talks in Brussels which is starting today for further direction. The intraday trend of GBPJPY is slightly bullish as long as support 135 holds.
The pair is facing strong resistance around 136 (100-4H MA) and any violation above that level will take till 136.60 (Sep 14th high)/136.90/137.92 likely. It is facing strong support at 135, any indicative below that level targets 134.60/134/133.
It is good to buy on dips around 135.60-65 with SL around 135 for the TP of 137.90.
