Ichimoku Analysis (4-Hour Chart)
Tenken-Sen- 135.86
Kijun-Sen- 136.03
GBPJPY recovered more than 200 pips on a strong Pound Sterling. The Brexit optimism is supporting the Pound at lower levels. The buying happened near 1.2835 after reports show that UK PM will hold talks with European Commission on Saturday. The improvement in the health of Donald Trump is putting pressure on the US dollar. The short term trend of GBPJPY is slightly bullish as long as support 135 holds.
The pair is facing strong resistance around 136.69 (200-4H MA) and any indicative break above that level will take the pair till 137.05/137.59 (200-4H MA)/138. It is facing strong support at 135.50, any indicative below that level targets 135/134.60/134/133.
It is good to buy on dips around 136 with SL around 135 for the TP of 138.
