Ichimoku Analysis (Daily Chart)
Tenken-Sen- 144.96
Kijun-Sen- 143.62
GBPJPY continues to trade lower for 3rd consecutive days and lost more than 600 pips from a temporary top 147.95. The decline was mainly due to a slump in Pound sterling against USD on increasing possibilities no-deal Brexit. GBPUSD fell more than 500 pips after forming a minor top around 1.35149.
Technically the pair is facing strong support at 142.32 (21- day MA), any daily close below that level targets 140.83/140. Major bearish continuation only below 138.
On the higher side, the minor level to be watched is 144.20 (5-day MA) and break above targets 145/146.
It is good to sell on rallies around 143 with SL around 144.20 for the TP of 140/138.80.
