GBP/JPY Price Forecast: Bearish outlook remains in play below 190.00

• GBP/JPY gathers strength to around 189.85 in Tuesday's early European session. 
• The cross keeps the negative outlook below the 100-day EMA with a bearish RSI indicator. 
• The initial support emerges at 188.15; the first upside barrier is located at 190.00. 

The GBP/JPY cross drifts higher to 189.85 during the early European session on Tuesday. However, the upside for the cross might be limited amid the risk-off sentiment, which is likely to boost the safe-haven currency like the Japanese Yen (JPY).

Despite the downward revision of Japan's Gross Domestic Product (GDP) for the fourth quarter (Q4), traders seem convinced that the Bank of Japan (BoJ) will raise its interest rates further amid broadening inflation in Japan.  This, in turn, might underpin the JPY in the near term.

According to the daily chart, the bearish outlook of GBP/JPY remains in play as the cross remains capped below the key 100-day Exponential Moving Average (EMA). Furthermore, the downward momentum is supported by the 14-day Relative Strength Index (RSI), which is located below the midline, suggesting that the path of least resistance is to the downside. 
 
The first downside target for the cross emerges at 188.15, the low of February 21. Extended losses could see a drop to 187.87, the lower limit of the Bollinger Band. A decisive break below the mentioned level could pave the way to 187.00, representing the psychological level and the low of February 7. 

On the bright side, the first upside barrier to watch is the 190.00 psychological level. The crucial resistance level for the cross emerges at 192.50, the 100-day EMA. Sustained trading above this level could attract some buyers to 192.70, the upper boundary of the Bollinger Band. Further north, the next hurdle is seen at 194.71, the high of January 27. 

GBP/JPY daily chart