GBP/JPY may fall 135 - 194 pips

Our pivot point stands at 195.69.

Our preference

Under pressure below 195.69.

Alternative scenario

Above 195.69, look for 196.68 and 197.27.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 195.02 and 194.93).

Supports and resistances

197.27 **

196.68 *

195.69 **

195.30

194.84 last

193.49

192.90 **

192.31 *

191.72 **

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