GBP/JPY intraday: rebound towards 199.92

Our pivot point stands at 197.43.

Our preference: rebound towards 199.92.

Alternative scenario: below 197.43, expect 196.60 and 196.10.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 198.28 and 198.69).

Supports and resistances:

200.92 **

200.42 *

199.92 **

199.43

198.25 last

197.76

197.43 **