Ichimoku Analysis (hourly chart)
Tenken-Sen- 137.38
Kijun-Sen- 137.09
As per our yesterday analysis GBPJPY has shown a minor jump till 137.53 after breaking 137.29 high made on May 31st. The pair has formed a temporary bottom near 136.50 and it has halted its past 10 days weak trend.The weakness was mainly due to selling in GBP due to Brexit uncertainty. It is currently trading around 137.40.
The near term major intraday resistance is around 137.50 (trend line resistance) and any violation above will take the pair to next level till 138.15/138.73.Any break above 138.75 confirms bullish continuation and jump till 138.72 likely.
On the lower side, major support is at 137 and any violation below will drag the pair to next level till 136.50/135.80/135.50.
It is good to buy on dips around 137.30-35 with SL around 136.80 for the TP of 138.70.
