GBP/JPY may rise to 205.77 - 209.20

Our pivot point is at 193.90.

Our preference

The upside prevails as long as 193.90 is support.

Alternative scenario

Below 193.90, expect 188.14 and 184.72.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 195.42 and 192.97).

Supports and resistances

216.06 **

212.63 *

209.20 **

205.77

198.63 last

196.15

193.90 **

188.14 *

184.72 **

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