Ichimoku Analysis (4-Hours chart)
Tenken-Sen- 134.92
Kijun-Sen- 135.45
GBPJPY recovered more than 250 pips on account of the strong Pound sterling. GBP is trading higher against all major, especially USD. The pair jumped above 1.2650 after better than expected UK jobless claims data.
From the 4-hour chart, it shows that the pair is holding above 200- EMA (134.26). Any break below 135.55 (55-4H EMA) will drag the pair down till 134.25/133.35. On the higher side, strong resistance is at 136.60, and the violation above will take to 137.25/138/139.75.
It is good to sell on rallies around 136.10-20 with SL around 137 for the TP of 133.35.
