Ichimoku Analysis (4 Hour chart)
Tenken-Sen- 137.69
Kijun-Sen- 138.03
GBPJPY's trend is on the downside and lost more than 100 pips on strong yen. USDJPY is trading below 104 level, dip till 103.18 likely. The pressure in Pound sterling on hopes of no Brexit deal. GBPUSD is trading below 1.32500, any violation below 1.3195 targets 1.3160/1.310. The intraday trend of GBPJPY is slightly bearish as long as resistance 138.50 holds.
Technical:
In the 4-hour chart, GBPJPY is facing strong support at 136.89 (200- EMA), and any convincing break below targets 136/135. On the higher side, near term intraday resistance is around 138, and any indicative break above that level targets 138.60/139.
It is good to sell on rallies around 138.95-39 with SL around 140 for the TP of 136.60.
