GBPJPY has had a good run for the past few months. Price action finally went below the ichimoku cloud lo.
Technical Analysis (Ichimoku Kinko Hyo)
Tenkan sen is now below kijun-sen, both are in the kumo cloud range. Chikou span had cut below the kijun sen, and penetrated below cloud hi into the kumo. There is still some distant not far away from the cloud lo.
The forward cloud also demonstrated a change, the short term senkou span A is cutting below the long term senkou span B. More important, price action already below cloud lo.
Trading Strategy (Ichimoku Charting)
A very good opportunity to start establish short position with stop loss above the cloud hi. The best ideal case is for the price action falling below 139.35 within the next 5-7 days.
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