GBP/JPY may fall 144 - 216 pips

190.73 is our pivot point.

Our preference

The downside prevails as long as 190.73 is resistance.

Alternative scenario

Above 190.73, look for 191.94 and 192.66.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 189.92 and 189.86).

Supports and resistances

192.66 **

191.94 *

190.73 **

190.25

189.64 last

188.20

187.48 **

186.76 *

186.04 **

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