GBP/JPY may fall 58 - 88 pips

Pivot

194.70

Our preference

Short positions below 194.70 with targets at 193.60 & 193.30 in extension.

Alternative scenario

Above 194.70 look for further upside with 195.10 & 195.50 as targets.

Comment

A break below 193.60 would trigger a drop towards 193.30.

Supports and resistances

195.50

195.10

194.70

194.18 Last

193.60

193.30

192.90

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