Ichimoku Analysis (Hourly chart)
Tenken-Sen- 143.37
Kijun-Sen- 143.37
GBPJPY has shown a minor jump after BOE monetary policy. The central bank has kept its rates unchanged at 0.75% and asset purchase at 435 billion euros as expected. GBP recovered slightly against USD and jumped till 1.31324 and is currently trading around 1.3100.
GBPJPY halted its 3 -1/2 month high and declined more than 250 pips from a temporary top around 147.95. The decline was mainly due to a drastic fall in Pound sterling on the risk of no-deal Brexit.
Technically it is facing major near term support is around 142.09-50, any violation below will drag the pair down to 140.83/140. Major bearish continuation only below 138.
On the higher side, the minor level to be watched is 144.15 (200-H MA) and break above targets 145/146.
It is good to sell on rallies around 143.75-80 with SL around 145 for the TP of 140/138.80.
