Ichimoku Analysis (Hourly Chart)
Tenken-Sen- 134.13
Kijun-Sen- 134.13
GBPJPY has recovered more than 150 pips from a low of 133.04 on weak yen. The US dollar is gaining strength against all majors, especially vs USD. USDJPY is trading higher for 3rd consecutive days and any violation above 105.60 confirms bullish continuation. GBPUSD showed a minor lift till 1.2780 after UK Finance minister Rishi Sunak announced a new job scheme. The overall trend of GBPJPY is weak as long as resistance 135.08 holds.
The pair is holding well below 200 H MA and any break above 135.10 confirms bullish continuation. A jump till 136/136.60 likely. It is facing strong support at 133, any violation below that level targets 131.75.
It is good to sell on rallies around 134.55-60 with SL around 135.10 for the TP of 131.75.
