GBP/JPY intraday: look for a drop towards 188.37 before a bounce
Our pivot point stands at 188.37.
Our preference: look for a drop towards 188.37 before a bounce.
Alternative scenario: the downside breakout of 188.37 would call for 187.91 and 187.64.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 188.72 and 188.72).
Supports and resistances:
190.19 **
189.92 *
189.64 **
189.37
188.74 last
188.55
188.37 **
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