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Ichimoku Analysis (Hourly chart)
Tenken-Sen- 142.38
Kijun-Sen- 142.13
GBPJPY is trading higher for 2nd consecutive days and jumped more than 50 pips on the strong Pound sterling. The pair has formed minor bottom around 140.96 and jumped till 143.37. Any major intraday move only over 143.40.
GBP was trading higher against USD and shown recovery from low of 1.28721 till 1.29746. Any convincing violation up 1.3000 targets 1.3065.
Technically, pair is holding above 200-H MA and a jump till 143.37/144 is possible. Significant trend reversal only beyond 144.60.
On the flip side, immediate support is around 142.20 and any indicative break beneath targets 142/141.25.
It is good to buy on dips around 142.50 with SL around 142 for the TP of 144.
