Ichimoku Analysis (Hourly chart)
Tenken-Sen- 138.60
Kijun-Sen- 137.86
GBPJPY has shown a gap up opening of nearly 150 pips from Friday's close of 137.46. The extension of the deadline of Brexit talks has supported the Pound sterling. But the chance of no deal Brexit is preventing GBPUSD from trading above 200-H MA. Any jump above 1.3365 confirms minor bullishness. The intraday trend of GBPJPY is bearish as long as resistance 140 holds.
Technical:
The pair is trading well below 200 H MA and EMA, any violation above 139.20 will take till 140/140.50. On the lower side, near term support is around 138.25, and any indicative break below targets 137.70/137.19/136.78/136.
It is good to sell on rallies around 138.85-90 with SL around 139.60 for the TP of 136.78.
