 - EconoTimes)
Ichimoku analysis (Hourly chart)
Tenken-Sen- 136.91
Kijun-Sen- 136.49
GBPJPY is consolidating after a sharp recovery till 137.33. The intraday trend of this pair remains neutral as long as resistance 137.35 holds. The Pound sterling was trading higher against the USD on positive Brexit headlines. It has surged past 1.3000 and jumped till 1.30641. Markets eye update on Brexit in the EU summit today and tomorrow for further direction. The intraday trend is on the lower side, a dip till 135.65 is possible.
Technical:
In the Hourly chart, GBPJPY is trading well below the long-term moving average (200 MA) and Tenken-Sen. Any break above 137.35 will take the pair till 137.85/138. On the flip side, near term intraday support is around 136.50 and any indicative break below that level will take the pair till 136/135.66.
It is good to sell on rallies around 136.55-60 with SL around 137 for the TP of 135.60.
