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Ichimoku Analysis (Daily Chart)
Tenken-Sen- 128.90
Kijun-Sen- 134.47
GBPJPY was trading high for 6th consecutive days and shown a minor decline from a high of 133.82. The jump was mainly due to surge in pound sterling, especially against USD. GBPUSD jumped more than 800 pips from a low of 1.14098.
Technically, short term bullishness can be seen only above 134.30-50 level and violation above targets 135/136/136.95. Major trend continuation only above 137.20.
On the flipside, immediate support is at 132 and indicative break below targets 131.40/129.85/128.90.
It is good to sell on rallies around 1.33.75-80 with SL around 134.50 for the TP of 131.40.
