Ichimoku Analysis (4-hour chart)
Tenken-Sen- 133.07
Kijun-Sen- 133.42
GBPJPY has recovered more than 100 pips due to a sudden surge in Pound sterling. GBP jumped more than 100 pips, especially against USD. The intraday bias of GBPJPY is on the higher side as long as support 132 holds.
Technically, the pair has broken major resistance 132.90 (200- 4 H MA) and a jump till 133.81/134.27 likely. Significant trend reversal only above 135.75.
The immediate support is around 131.90-132 and any violation below targets 131.28/130.
It is good to buy on dips around 133 with SL around 132 for the TP of 134.27.
