GBP/JPY may fall 49 - 89 pips

Pivot

201.65

Our preference

Short positions below 201.65 with targets at 200.40 & 200.00 in extension.

Alternative scenario

Above 201.65 look for further upside with 202.30 & 202.85 as targets.

Comment

The RSI calls for a new downleg.

Supports and resistances

202.85

202.30

201.65

200.89 Last

200.40

200.00

199.50

Number of asterisks represents the strength of support and resistance levels.