GBP/JPY may rise 60 - 89 pips

Our pivot point stands at 205.84.

Our preference

The upside prevails as long as 205.84 is support.

Alternative scenario

The downside breakout of 205.84 would call for 205.36 and 205.07.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 206.13 and 206.13).

Supports and resistances

207.72 **

207.44 *

207.15 **

206.86

206.26 last

206.03

205.84 **

205.36 *

205.07 **

Number of asterisks represents the strength of support and resistance levels.