GBP/JPY may fall to 187.89 - 191.09

203.73 is our pivot point.

Our preference

The downside prevails as long as 203.73 is resistance.

Alternative scenario

Above 203.73, look for 209.16 and 212.39.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 203.08 and 200.31).

Supports and resistances

212.39 **

209.16 *

203.73 **

201.60

199.07 last

191.09

187.89 **

184.70 *

181.50 **

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