Ichimoku Analysis (4-Hour Chart)
Tenken-Sen- 135.86
Kijun-Sen- 135.18
GBPJPY has lost more than 60 pips on sharp sell-off in Pound sterling. The broad-based US dollar buying is putting pressure on GBPUSD. The recent Brexit optimism and hopes for trade deal have pushed GBPUSD above 1.2900. UK final manufacturing PMI came 54.1 compared to a forecast of 54.30. The intraday trend of GBPJPY is slightly bearish as long as resistance 136.60 holds.
The pair is facing strong resistance around 136.69 (200-4H MA) and any violation above that level will take the pair till 136.90/137.80 (200-4H MA). It is facing strong support at 135.50, any indicative below that level targets 135/134.60/134/133.
It is good to sell on rallies around 136 with SL around 136.60 for the TP of 134.
