Trade Idea GBPJPY (Intraday)

Ichimoku analysis (15 Min chart)

Tenken-Sen- 135.95

Kijun-Sen- 135.94

GBPJPY forms a double bottom around 135.60 and shown a minor recovery till 136.27. The pound sterling is trading weak against all majors on Brexit pessimism and rising COVID -19 cases. Market eye UK PM Boris Johnson announcement on Brexit today for further direction.   The intraday trend of this pair remains neutral as long as resistance 136.40 holds. GBPUSD showed a massive sell-off of more than 150 pips from a high of 1.30644. 

Technical:

In the 15 min chart, GBPJPY is trading well below the long-term moving average (200 MA). Any break above 136.40 will take the pair till 136.62/137/137.33. On the flip side, near term intraday support is around  135.90 and any indicative break below that level will take the pair till 135.60/135.

It is good to sell on rallies around 136.25-30 with SL around 136.65 for the TP of 135.