GBP/JPY Technical Analysis: Blue skies in Ichimoku initial target in the 149 handle

• GBP/JPY is in a well-defined uptrend, supported by the 21-4hr SMA, with blue skies on soft  Brexit optimism. 
• Bulls can take comfort from the Lagging Span in the Ichimoku strategy well behind price and series of bullish closes on a daily basis that sees the Tenken-sen moving back away from the Kijun-sen, bullishly aligned again.
• However, RSI is in overbought conditions on a daily basis and 4hr MACD is troublesome, although hourly momentum indicators are leaning bullish. 
• Additional gains will target R1 at 148.45 ahead of 149.20 and 149.51 (R3) completing a full retracement to the Sep, Oct and Nov 2018 highs. 
• On the flipside, 148 is the trending support line that guards S2 at 146.92 ahead of S3 at 146.34. 

GBP/JPY Daily Chart