GBP/JPY may fall to 192.34 - 195.37

Our pivot point stands at 206.97.

Our preference

Target 192.34.

Alternative scenario

Above 206.97, look for 212.10 and 215.15.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (203.71) but above its 50 period moving average (200.12).

Supports and resistances

215.15 **

212.10 *

206.97 **

204.95

201.55 last

195.37

192.34 **

189.31 *

186.28 **

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