GBP/JPY may fall 93 - 136 pips

Our pivot point stands at 184.16.

Our preference

Technical rebound towards 184.16 before a new drop.

Alternative scenario

Above 184.16, look for 184.88 and 185.31.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (182.78) but below its 50 period moving average (184.04).

Supports and resistances

185.31 **

184.88 *

184.16 **

183.88

183.58 last

182.65

182.22 **

181.79 *

181.37 **

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