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Ichimoku Analysis (1 hourly chart)
Tenken-Sen- 134.84
Kijun-Sen- 134.95
GBPJPY has once again recovered after a minor decline till 134.50. The intraday trend is bullish as long as support 134.15 holds. The strength in Pound Sterling especially against USD I supporting this pair. GBPUSD rose of more than 60 pips for the day and jump till 1.2600 likely.
On the higher side, near-term major resistance is around 135.75 high made yesterday and any violation above will take the pair to next level till 136/136.90.
The immediate resistance is around 134.15 and any indicative break below will drag the pair to the next level till 133.70/132.90. Major bearishness only below 132.50.
It is good to buy on dips around 134.55-60 with SL around 134.15 for TP of 136.90.
