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Ichimoku Analysis (Hourly chart )
Tenken-Sen- 139.80
Kijun-Sen- 140.04
GBPJPY is trading in narrow range 139.46 and 140.74 for the 1- week. The overall trend is still weak as long as resistance 141.50 holds. The pound sterling was one of the best performers in the past 2 months especially against yen, gained more than 10% on strong GBP.
USDJPY recovered sharply for the day after hitting 200-H MA and any break above 109.30 confirms major bullishness.
On the flip side, near term support stands around 139.45 low made on Oct 29th, violation below targets 139/138.
It is good to sell on rallies around 140.25-30 with SL around 140.75 for the TP of 138.
