Ichimoku Analysis (Hourly chart)
Tenken-Sen- 138.19
Kijun-Sen- 137.99
GBPJPY is holding slightly above 138 level on the strong Pound sterling. The Brexit optimism and easing COVID-19 restrictions in London is supporting the Pound sterling. Markets eye UK flash PMI data for further direction. USDJPY is still holding below 104, any violation below 103.65 targets 103.18.
Technical:
In the hourly chart, GBPJPY is trading slightly above 200- MA; any indicative break above 138.35 confirms minor bullishness. A jump till 138.85/139.60/140. On the lower side, near term intraday support is around 137.60, and any indicative break above that level targets 137.19/136.60.
It is good to buy on dips around 138.55-60 with SL around 138 for the TP of 139.60/140.
