Ichimoku Analysis (4- hour chart)
Tenken-Sen- 133.54
Kijun-Sen- 133.50
GBPJPY recovered sharply more than 150 pips from a low of 133.08. The pound sterling is trading stable amid reports that UK PM Boris Johnson is doing well in hospital. His hospitalization was described as a "precautionary step" taken on the advice of his doctor. GBPUSD surged more than 100pips from intraday low 1.22157.
The near term resistance is around 135.25 (200- 4H MA) and indicative break beyond targets 136/136.90.
On the flip side, the pair is facing powerful support at 132.40 and the break beneath will drag the pair down till 132/130.65.
It is good to sell on rallies around 133.90-95 with SL around 135 for the TP of 132.
