Ichimoku Analysis (Daily chart)
Tenken-Sen- 134.17
Kijun-Sen- 135.21
GBPJPY is trading higher for 3rd consecutive days and jumped more than 200 pips on strong Pounds sterling. The intraday trend is still bullish as long as support 132.60 holds. GBP surged past 1.2500 on upbeat UK manufacturing PMI. It came at 50.1 for June much better than the previous month reading 40.7.
The pair is facing strong resistance at 134.14 (55 day-EMA). Any break above will drag the pair to the next level till 135.75/136.35.
On the lower side, strong resistance is at 132.60, and the violation below will take the pair to 131.75/130.60.
It is good to buy above 134.10 with SL around 133.50 for the TP of 135.75/136.35.
