Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 181.98
Kijun-Sen level: 182.68
Ichimoku cloud top: 180.20
Ichimoku cloud bottom: 177.85
GBP/JPY has taken support at 181.06 and has recovered from that level. Overall trend is bullishness as long as major support 181 holds.
Minor resistance is around 182.75. Any break above will target 183.78/184.35. The pair is facing minor support at 181.85. On the downside any break below will target 181.05.
Recommendation: Buy GBP/JPY around 181.65, SL 181, Target 184.35.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 181.98
Kijun-Sen level: 182.68
Ichimoku cloud top: 180.20
Ichimoku cloud bottom: 177.85
GBP/JPY has taken support at 181.06 and has recovered from that level. Overall trend is bullishness as long as major support 181 holds.
Minor resistance is around 182.75. Any break above will target 183.78/184.35. The pair is facing minor support at 181.85. On the downside any break below will target 181.05.
Recommendation: Buy GBP/JPY around 181.65, SL 181, Target 184.35.