Trend line support - 143.30
Ichimoku Analysis
Tenken-Sen - 143.42
Kijun-Sen - 143.77
GBPJPY hits high of 145.68 and shown a good sell-off from that level on account escalating trade tensions between US and other majors such as China and Canada. This has increased demand of safe haven assets such as yen,gold and Swiss franc.
The pair has broken major trend line support at 143.30 and declined till 142.65. It has almost formed a double bottom at 142.65. Any violation below 142.65 will drag the pair down till 142/141.12.It should break below 140 for further bearish continuation.
On the higher side, near term resistance is around 143.55 (220- 4H MA) and any break above will take the pair till 144.30/145.
It is good to sell on rallies around 143.55-60 with SL around 144.25 for the TP of 142
