Ichimoku analysis (Hourly chart)
Tenken-Sen- 135.92
Kijun-Sen- 135.64
Intraday bias- Bullish
GBPJPY has recovered nearly 100 pips from low of 135.08 and hits a high of 136.05. USDJPY is trading higher due to rising US 10 year bond yield. It recovered more than 10% from low of 1.937% and hits 4- week high. Any major bullishness can be seen only above the 109 level.
On the higher side, major resistance is around 136.06 (300- H EMA) and any violation above will take the pair till 136.45/137. Any convincing break above 137.78 confirms bullishness.
The near term support is around 135-135.18 and any violation below will drag the pair to the next level till 133.90/133.
It is good to buy on dips around 135.55-60 with SL around 135 for the TP of 137.
