Ichimoku Analysis (Hourly chart)
Tenken-Sen- 140.615
Kijun-Sen- 140.77
GBPJPY continues to trade lower on the weak Pound sterling. GBP lost more than 300 pips against USD on no-deal Brexit concern. The slight improvement in US Nonfarm payroll data also supporting the US dollar at higher levels. The intraday trend of the Pound/Yen is bearish as long as resistance 142 holds.
On the hourly chart, the pair holding well below 100 and 200 MA. Any close below 140 will drag the pair down till 139.66/138.25. It is facing strong resistance at 141.45, any violation above that level targets 141.75/142/142.71.
It is good to sell on rallies around 140.55-60 with SL around 141.50 for the TP of 138.50
