Ichimoku Analysis (4-Hour Chart)
Tenken-Sen- 136.70
Kijun-Sen- 136.23
GBPJPY continues to trade higher for 2nd consecutive days on the strong Pound sterling. The US dollar declined sharply on positive market sentiment after Trump's discharge from the hospital. GBPUSD surged past 1.30 levels and shown a minor decline. The short term trend of GBPJPY is slightly bullish as long as support 135 holds.
The pair is holding well above 200-4H EMA and any indicative break above 137.55 (200-4H MA) will take the pair till 138.31/139/140. It is facing strong support at 136.20, any indicative below that level targets 135/134.60/134/133.
It is good to buy on dips around 136 with SL around 135 for the TP of 138.
