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Ichimoku Analysis (Hourly chart)
Tenken-Sen- 141.12
Kijun-Sen- 141.10
GBPJPY is consolidating after massive recovery of more than 1200 points from low of 130.65 level. The UK Parliament rejection of Brexit vote was one the reason for jump in Pound sterling against other pairs. This has increased the chance of delay in Brexit. The pair hits low of 140.65 and is currently trading around 140. Markets eye UK jobs data for further direction.
On the lower side,any hourly close below 140.80 confirms further weakness and a dip till 140/139.50/137.40 is likely.
The minor bullishness can happen only above 141.50 and any break above targets 142.25/143.
It is good to sell on rallies around 140.75-80 with SL around 141.50 for the TP of 139.50/137.40.
