GBP/JPY intraday: target 193.60

195.94 is our pivot point.

Our preference: target 193.60.

Alternative scenario: above 195.94, look for 196.77 and 197.26.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (195.43) but above its 50 period moving average (195.02).

Supports and resistances:

197.26 **

196.77 *

195.94 **

195.62

195.29 last

194.09

193.60 **