Ichimoku Analysis (Daily chart)
Tenken-Sen- 140.16
Kijun-Sen- 140.16
GBPJPY continues to trade lower and hits a 2-week low on a weak Pound Sterling. The Pound is trading well below 1.3000 on Brexit uncertainty and COVID related restrictions in the UK after the coronavirus spike. The intraday trend of the Pound/Yen is bearish as long as resistance 138.20 holds.
On the daily chart, the pair has broken holding well below 100 MA. Any break below 139.60 will drag the pair down till 138.25/137.84. It is facing strong resistance at 140.10, any violation above that level targets 140.70/141.45/142.71.
It is good to sell on rallies around 139.55-60 with SL around 140.50 for the TP of 137.85
