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Ichimoku Analysis (4 hourly Chart)
Tenken-Sen- 140.99
Kijun-Sen- 140.44
GBPJPY has once again declined after surging past 141 levels. The major sell-off in pound sterling on an increasing number of corona cases in the UK and hopes of further tightening by the UK government. GBPUSD is trading below 1.35000, any violation below 1.3440 confirms further bearishness. The intraday trend of GBPJPY is bullish as long as resistance 141.40 holds.
Technical:
The pair's significant resistance at 141.40, any indicative break above targets 142/142.70. Significant trend continuation only if it goes past 142.70. On the lower side, near term support is around 140.35, and any violation below targets 140/139.75/139.40.
It is good to buy on dips around 140.55-60 with SL around 140 for the TP of 142.70.
