Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 183.29
Kijun-Sen level: 182.85
Ichimoku cloud top: 182.52
Ichimoku cloud bottom: 178.93
GBP/JPY has formed temporary top around 184.65 (trend line resistance joining 18069 and 184.31) and any further bullishness can be seen only above that level. In 4 hours chart GBP/JPY is trading slightly weak and is trading well below Tenkan-Sen and Kijun-Sen level.
Short term trend is weak as long as minor resistance 182.80 holds.
On the upper side break above 182.80 will target 183.30/183.88.
The pair minor support is at 181.85 and break below would take the pair to 181.
Recommendation: Sell GBP/JPY around 182.15-20, SL 182.81, Target 181.05.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 183.29
Kijun-Sen level: 182.85
Ichimoku cloud top: 182.52
Ichimoku cloud bottom: 178.93
GBP/JPY has formed temporary top around 184.65 (trend line resistance joining 18069 and 184.31) and any further bullishness can be seen only above that level. In 4 hours chart GBP/JPY is trading slightly weak and is trading well below Tenkan-Sen and Kijun-Sen level.
Short term trend is weak as long as minor resistance 182.80 holds.
On the upper side break above 182.80 will target 183.30/183.88.
The pair minor support is at 181.85 and break below would take the pair to 181.
Recommendation: Sell GBP/JPY around 182.15-20, SL 182.81, Target 181.05.