Ichimoku Analysis (Hourly chart)
Tenken-Sen- 139.07
Kijun-Sen- 139.32
GBPJPY is trading slightly lower for the past three days. It has lost more than 150 pips from a minor top 139.85. The pound sterling has retreated from 1.3400 levels on Brexit deal uncertainty. With the deadline around Dec 31st for the transition period. UK and EU are going to have trade talks face to face in London this weekend. USDJPY continues to trade weak after forming a minor top at 104.76.
Technical:
The pair is facing strong resistance 140.31, break above confirms bullish continuation. A jump to 142.71/143 is possible. On the lower side, near term intraday support is around 138.75 (200- H EMA), and any indicative break below will drag the pair to 138.55 (200- H MA)/138/137.60/137.19.
It is good to sell on rallies around 139.15-20 with SL around 140 for the TP of 137.
