GBP/JPY may fall 146 - 218 pips

190.81 is our pivot point.

Our preference

The downside prevails as long as 190.81 is resistance.

Alternative scenario

Above 190.81, look for 192.02 and 192.74.

Comment

The RSI is below its neutrality area at 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 190.33 and 190.88).

Supports and resistances

192.74 **

192.02 *

190.81 **

190.33

189.85 last

188.39

187.67 **

186.95 *

186.23 **

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