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Ichimoku Analysis (4-hour chart)
Tenken-Sen- 142.15
Kijun-Sen- 142.15
GBPJPY trades slightly higher after forming a bottom around 140.92 yesterday. The jump was mainly due to a sudden surge in GBP against USD. It has recovered more than 100 pips from a low of 1.29484 and is currently trading around 1.30492.
On the flip side, immediate support stands at 142.79 and any indicative break below will drag the pair down till 142.15/141.80. Extreme weakness only below 140.80.
The pair has broken major resistance at 143.30 and jumped slightly above that level. Any hourly close above 143.30 confirms minor bullishness, a jump till 144.60 likely.
It is good to buy on dips around 142.80-85 with SL around 142.15 for the TP of 144.60.
