Ichimoku Analysis (1-hour chart)
Tenken-Sen- 135.95
Kijun-Sen- 135.92
GBPJPY has shown a minor recovery of more than 100 pips from a temporary bottom 135.41. The jump was due to a slight pullback in Pound sterling after mixed UK jobs data. The UK Claimant count rose less than expected, while the unemployment rate surged to 4.1% vs the previous 3.9%. The intraday trend of the Pound/Yen is bullish as long as support 135.75 holds.
On the hourly chart, the pair is holding slightly above 55- EMA. Any break above 136.60 will take the pair to next level till 137.75/138.35 It is facing strong support at 135.75, any violation below that level targets 135.41/135/133.98.
It is good to sell on rallies around 136.55-60 with SL around 137.50 for the TP of 134.80/133.98.
