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Ichimoku Analysis (1 hour)
Tenken-Sen: 139.63
Kijun-Sen 139.82
GBPJPY is trading in a narrow range between 139.36 and 140.58 in the past 3 days. The overall trend is still neutral as long as support 139 holds. The pair has formed a temporary top around 141.50 and is currently trading around 139.65.
USDJPY is trading weak after forming a top around 109.48 and any violation below 108.60 targets 108/107.70.
On the flip side, any break below 139 will drag the pair down till 138/137.30.
The minor resistance is around 140.50 and major bullish continuation only above 141.50.
It is good to sell on rallies around 139.85-90 with SL around 140.40 for the TP of 138.
