Ichimoku Analysis (Daily chart)
Tenken-Sen- 132.60
Kijun-Sen- 132.37
GBPJPY continues to trade higher for 3rd consecutive days and jumped more than 300 pips from low of 131.78. The jump was mainly due to strong Pound sterling on broad-based US dollar selling and hopes of Brexit. GBPUSD hits 1- month high and holding above 1.2500 levels. Markets eye final round of Brexit negotiation for further direction. It is currently trading around 135.15.
The pair is trading above 135 levels and any major bullish continuation only above 135.75 (Apr 9th high). Any violation will take the pair till 136.62/137.19.
On the flip side, near-term support stands at 133.70 and any violation beyond will take the pair to next level till 133/131.78 (21-day MA)/130.66.
It is good to buy on dips around 134 with SL around 133 for the TP of 135.70.
