Ichimoku Analysis (4-hour chart)
Tenken-Sen- 134.62
Kijun-Sen- 134.95
GBPJPY has taken support near Tenken-Sen and shown more than 100 pips jump to 136.62. The jump was mainly due to strong Pound sterling on upbeat market mood. GBPUSD holding above 1.2700 level amid Brexit tension and UK and China trade war.
The daily chart shows that the pair is trading slightly above 200 MA (136.08). A jump till 137.60 (200- day MA) is possible. Any daily close above 137.6 will open doors for 140 levels. The near term support is around 135.30 and the indicative break below that level will drag the pair to the next level 134.77/134.35/133.90/131.75.
It is good to buy on dips around 135.75-80 around with SL around 135 for the TP of 137.60/140.
