Ichimoku analysis (hourly chart)
Tenken-Sen- 144.66
Kijun-Sen - 144.80
GBPJPY is consolidating after a major sell -off. The pair declined more than 350 pips on account of Brexit uncertainty. UK PM is expected to travel to Brussels today to discuss the trade. Markets eye BOE Governor testimony on inflation report hearings before UK Parliament Treasury Committee today. GBPJPY hits low of 144.24 and is currently trading around 144.98.
On the lower side, near term major support is around 144.24 low made yesterday and any convincing break below targets 143.85/143. Any break below 142.77 low made on Oct 26th 2018 confirms further bearishness.
The near term minor resistance is around 145.48 (23.6% fib) and any violation above targets 146.13 (Kijun-Sen)/146.35 (89- day EMA). The pair downside trend will be completed only if break above 149.70.
It is good to sell on rallies around 145.45-145.50 with SL around 146.10 for the TP of 143.