Ichimoku Analysis (hourly analysis)
Tenken-Sen- 139.55
Kijun-Sen- 139.62
GBPJPY continues to trade weak after hitting a high of 141.50. The pair was one of the best-performing assets in this month and jumped more than 1000 pips on Brexit optimism. The Pound sterling has lost more than 150 pips from 1.30125 made on 21st Oct 2019.10.25
Technically, support is around 138.90-139 and any convincing break below will drag the pair down till 138/137.25.
The bullish continuation can be seen only above 141.50 level and any violation above targets 142.50/143.
It is good to sell on rallies around 139.35-40 with SL around 140 for the TP of 138/137.25.
