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Ichimoku Analysis (4- hour chart)
Tenken-Sen- 141.41
Kijun-Sen- 140.70
GBPJPY is consolidating after hitting a fresh 6-month high at 141.85 on Nov 27th, 2019. The US has supported Hong Kong's protests by Trump signing the HK Human Rights and Democracy act bill. Any retaliation from China will have a major impact on the US-China trade deal.
USDJPY continues to trade higher on recovering treasury yield and a slight easing of trade uncertainty. Any indicative break above 109.60 confirms major bullish continuation.
On the higher side, near-term resistance is around 141.80 and any indicative break beyond targets 142.50/143.25/145.
The major support is around 139, any break beneath will drag the pair till 138/137.25.
It is good to buy on dips around 141.40-45 with SL around 140.60 for the TP of 143.25/145.
