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Ichimoku Analysis (hourly Chart)
Tenken-Sen- 140.96
Kijun-Sen- 140.78
GBPJPY has recovered after taking support near 20- H MA. The pound sterling has halted its one-week bearish trend and shown a minor pullback above 1.3500. GBPUSD hits a 33-month high at 1.37039 and lost more than 300 pips. The intraday trend of GBPJPY is bullish as long as support 140.30 holds.
Technical:
The pair's significant resistance at 141.40, any indicative break above targets 142/142.70. Significant trend continuation only if it goes past 142.70. On the lower side, near term support is around 140.35, and any violation below targets 140/139.75/139.40.
It is good to buy on dips around 140.55-60 with SL around 140 for the TP of 142.70.
