Ichimoku Analysis (Hourly chart)
Tenken-Sen- 139.025
Kijun-Sen- 139.11
GBPJPY has broken the previous week's low 137.90 and trading well below that level on the weak pound sterling. GBPUSD lost more than 100 pips for the day on hopes of no Brexit deal. The EU commission Chief said that chance of a Brexit deal is low. The intraday trend of GBPJPY is bearish as long as resistance 138.60 holds.
Technical:
The pair is trading well below 138 level, any violation below 137.19 will drag till 136.23/135. On the higher side, near term resistance is around 138.50, and any indicative break above targets 139.20/139.62/140/140.50.
It is good to sell on rallies around 137.85-90 with SL around 138.60 for the TP of 136.25.
