Ichimoku Analysis (hourly chart)
Tenken-Sen- 135.96
Kijun-Sen- 135.69
GBPJPY is trading slightly higher on surging Pound sterling. But strength in the yen is capping further gains. The increasing chance of Biden victory and stimulus hopes by BOE is supporting the Pound sterling. GBPUSD is holding well above 1.3100 and jump till 1.3200 likely. The intraday trend is slightly bullish as long as support 134.80 holds.
Technical:
In the 60 min chart, GBPJPY is trading above 200 MA and any convincing break above 136.25 will take the pair till 136.60/137/137.38. On the lower side, near term intraday support is around 135.60, and any indicative break below that level targets 135.37/135.20/134.80/134.
It is good to buy on dips around 135.80 with SL around 135.40 for the TP of 137.
