Ichimoku (Daily analysis)
Tenken-Sen- 134.93
Kijun-Sen - 135.82
GBPJPY is trading slightly lower after a jump till 135.27 level yesterday. The pair is struggling to close above 135 on a slight weakness in Pound sterling. GBPUSD has lost more than 50 pips from a high of 1.25220 level.
Technical of GBPUSD:
The cable is facing strong resistance around 1.3520 trend line resistance and any break above will take the pair till 1.2580. Any major bullishness only above 1.2580.
USDJPY is still in bearish mode and any trend reversal only above 109 level. The minor intraday resistance is around 108.50.
On the higher side, near term resistance is around 135.52 (21-day MA) and any violation above confirms bullish continuation and a jump till 136.05/136.28/136.50. The decline from 148.72 will get over at 133.85 only if it breaks above 138.32 level.
The near term major support is around 134.70 and any violation below will drag the pair to the next level till 134.25/133.85.
It is good to buy on dips around 134.55-60 with SL around 134 for the TP of 136.50/137.
