Ichimoku Analysis (hourly chart)
Tenken-Sen- 135.23
Kijun-Sen- 135.10
GBPJPY's upside capped by 100-EMA and shown a minor decline in the weak Pound sterling. The rise in the number of coronavirus cases in the UK and new 4-week lockdown across England. The intraday trend is still neutral as long as resistance 135.62 holds. The pound sterling is trading weak and trading slightly below 100-day EMA. A dip till 1.2800 is possible.
Technical:
In the 60 min chart, GBPJPY is facing significant resistance at 135.62 (100 MA). Any convincing break above will take the pair till 136/136.20. On the lower side, near term intraday support is around 135, and any indicative break below that level targets 134.60/134.
It is good to sell on rallies around 135.35-40 with SL around 135.70 for the TP of 134.
