GBP/JPY intraday: target 191.61

Our pivot point stands at 193.65.

Our preference: target 191.61.

Alternative scenario: above 193.65, look for 194.40 and 194.85.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (193.21) but above its 50 period moving average (192.81).

Supports and resistances:

194.85 **

194.40 *

193.65 **

193.36

192.99 last

192.06

191.61 **