Ichimoku Analysis (hourly chart)
Tenken-Sen- 135.46
Kijun-Sen- 135.32
GBPJPY recovered sharply and jumped more than 80 pips from yesterday's low of 134.88. The recovery in pound sterling against USD on hopes of Biden to win elections. Markets to trade highly volatile till the US election verdict. The intraday trend is slightly bullish as long as support 134.80 holds.
Technical:
In the 60 min chart, GBPJPY is trading well above 100 MA and any violation above 136.02 (200 MA) will take the pair till 136.60/137. On the lower side, near term intraday support is around 135.60, and any indicative break below that level targets 135.20/134.80/134.
It is good to buy on dips around 135.78-80 with SL around 135.50 for the TP of 136.45.
