GBP/JPY may fall 92 - 135 pips

200.96 is our pivot point.

Our preference

The downside prevails as long as 200.96 is resistance.

Alternative scenario

Above 200.96, look for 201.69 and 202.13.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 200.76 and 201.35).

Supports and resistances

202.13 **

201.69 *

200.96 **

200.68

200.38 last

199.46

199.03 **

198.59 *

198.16 **

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