GBP/JPY may rise 58 - 87 pips

Our pivot point is at 205.91.

Our preference

As long as 205.91 is support look for 207.16.

Alternative scenario

Below 205.91, expect 205.43 and 205.14.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 206.27 and 206.20).

Supports and resistances

207.73 **

207.45 *

207.16 **

206.87

206.29 last

206.10

205.91 **

205.43 *

205.14 **

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