Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 185.42
Kijun-Sen level: 185.02
Ichimoku cloud top: 184.41
Ichimoku cloud bottom: 183.59
GBP/JPY made a temporary high of 186.09 and is slightly retreating from that level. Overall trend is bullish as long as 184.50 holds. On the downside break below will target 183.95/183 in the short term.
Long term trend reversal can happen only below 181.
The pair’s minor resistance is around 186.11 and any indicative break above would extend gain to 187.44/188.50
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Sell
Recommendation: Buy GBP/JPY around 185.50, SL 184.45, Target 188.50.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 185.42
Kijun-Sen level: 185.02
Ichimoku cloud top: 184.41
Ichimoku cloud bottom: 183.59
GBP/JPY made a temporary high of 186.09 and is slightly retreating from that level. Overall trend is bullish as long as 184.50 holds. On the downside break below will target 183.95/183 in the short term.
Long term trend reversal can happen only below 181.
The pair’s minor resistance is around 186.11 and any indicative break above would extend gain to 187.44/188.50
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Sell
Recommendation: Buy GBP/JPY around 185.50, SL 184.45, Target 188.50.