Ichimoku Analysis (Daily Chart)
Tenken-Sen- 137.32
Kijun-Sen- 136.86
GBPJPY is trading extremely weak on the weak pound sterling. The pair has broken significant support 135.80 and is holding slightly below that level. GBPUSD declined below 1.2900 on rising concerns of no-deal Brexit. The pair is trading well below 21- day EMA, a dip till 1.2800 is possible. The short term trend of GBPJPY is bearish as long as resistance 136.90 holds.
The pair has closed below 21- day EMA and this confirms trend reversal, A dip till 135/134.36 is possible. The near term resistance is around 136.90, any indicative surge past that level confirms minor bullishness. A jump till 137.75/138 likely.
It is good to sell on rallies around 136.30-35 with SL around 137 for the TP of 134.
