Ichimoku Analysis (Hourly chart)
Tenken-Sen- 138.704
Kijun-Sen- 138.919
GBPJPY is trading in a narrow range between 139.42 and 138.40 for the past two days. EU and UK have restarted trade talks in Brussels. According to government sources, there has not been any significant progress in Brexit. UK jobless claims came at 64.3K compared to a forecast of 10.5K. GBPUSD struggles to break above 1.3350, any break above targets 1.3400. The intraday trend of GBPJPY is bearish as long as resistance 140 holds.
Technical:
The pair is struggling to close above 200-H MA, any violation above 139.50 will take till 140/140.50. On the lower side, near term support is around 138.40, and any indicative break below targets 137.70/137.19/136.78/136.
It is good to sell on rallies around 138.85-90 with SL around 139.60 for the TP of 136.78.
