GBP/JPY may fall 98 - 146 pips

Our pivot point is at 200.00.

Our preference

Eye 197.84.

Alternative scenario

The upside breakout of 200, would call for 200.81 and 201.29.

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 below its 20 period moving average (199.48) but above its 50 period moving average (199.29).

Supports and resistances

201.29 **

200.81 *

200.00 **

199.68

199.30 last

198.32

197.84 **

197.36 *

196.88 **

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