Ichimoku Analysis (4-hour Chart)
Tenken-Sen- 141.70
Kijun-Sen- 141.34
GBPJPY is trading slightly higher and holding above 141 level. The Intraday trend is neutral as long as resistance 142.25 holds. The Pound sterling jumped more than 200 pips in the past four trading sessions against the USD on an upbeat market mood.
Technical:
The pair's significant resistance at 142.25, any convincing break above targets 142.70. Primary trend continuation only if it goes past 142.70.A jump till 144/145 likely. On the lower side, near term support is around 14170, and any violation below targets 141/140.35.
It is good to buy on dips around 141.75-800 with SL around 141.40 for the TP of 142.70.
