Chart pattern- Triple top
Ichimoku analysis (4-hour chart)
Tenken-Sen- 132.53
Kijun-Sen- 131.92
GBPJPY has declined sharply after hitting a high of 132.85 today. It has formed a triple top around 133.20 and any break above confirms bullish continuation. A jump till 133.63/134/135 possible. The decline from 144 will get completed at 124.02 only if it breaks the 136 level.
USDJPY is trading flat and convincing surge past 107.75 targets 108.21/108.60.
The short term trend of this pair is bearish as long as resistance 133.20 holds. Any violation below 131.90 targets 131/130.66.
It is good to sell on rallies around 132.40-45 with SL around 133.20 for the TP of 130.66.
