GBP/JPY may fall 64 - 99 pips

Pivot

199.25

Our preference

Short positions below 199.25 with targets at 197.75 & 197.40 in extension.

Alternative scenario

Above 199.25 look for further upside with 199.75 & 200.20 as targets.

Comment

The RSI is bearish and calls for further decline.

Supports and resistances

200.20

199.75

199.25

198.39 Last

197.75

197.40

197.00

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