GBP/JPY – Currency exchange rate forecast 21.08.2019: the downside prevails as long as 129.75 is resistance

GBP/JPY - Currency exchange rate forecast 21.08.2019: the downside prevails as long as 129.75 is resistance

The MACD is below its signal line and negative.

Our pivot point is at 129.75.

Our preference: the downside prevails as long as 129.75 is resistance.

Alternative scenario: the upside breakout of 129.75, would call for 130.32 and 130.66.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 129.29 and 129.28).

Supports and resistances:

130.66 **

130.32 *

129.75 **

129.52

129.25 last

128.53

128.19 **

127.85 *

127.51 **

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