Ichimoku Analysis (Hourly chart)
Tenken-Sen- 139.40
Kijun-Sen- 139.30
GBPJPY declined sharply more than 150 pips on the weak Pound sterling. GBPUSD is trading below 1.300 after UK- EU talks in Brussels yielded no results. The intraday trend of GBPJPY is bearish as long as resistance 140.50 holds.
Technical:
The pair is trading well below 100- 4H MA, any violation below 138.50 will drag the pair till 137.90/137.19. On the higher side, near term resistance is around 139.40, and any indicative break above targets 140/140.50.
It is good to sell on rallies around 139 with SL around 140 for the TP of 137.19.
