Ichimoku Analysis (4-Hours chart)
Tenken-Sen- 135.39
Kijun-Sen- 134.95
GBPJPY continues to trade to lower after a minor till 136.35 on strong yen. The demand for Safe-haven increased after China imposed strict lockdown rules. GBP has lost more than 150 pips against USD. Markets eye UK CPI data to be released today for further direction. The pair jumped above 1.2650 after better than expected UK jobless claims data.
From the 4-hour chart, it shows that the pair is trading well below 55- EMA (135.49). Any break below 134.31 (200-4H EMA) will drag the pair down till 133.49. Significant selling can sEE below 133.35.
On the higher side, strong resistance is at 135.60, and the violation above will take the pair to 137.25/138/139.75.
It is good to sell on rallies around 136.10-20 with SL around 137 for the TP of 133.35.
