GBPJPY may fall 152 - 199 pips
Our preference
The downside prevails as long as 161.60 is resistance.
Alternative scenario
Above 161.60, look for 162.41 and 162.89.
Comment
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 161.20 and 161.33).
Our preference
The downside prevails as long as 161.60 is resistance.
Alternative scenario
Above 161.60, look for 162.41 and 162.89.
Comment
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 161.20 and 161.33).