GBP/JPY may rise 107 - 153 pips

Our pivot point stands at 198.45.

Our preference

The upside prevails as long as 198.45 is support.

Alternative scenario

Below 198.45, expect 197.66 and 197.20.

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 198.58 and 198.13).

Supports and resistances

201.54 **

201.08 *

200.61 **

200.15

199.08 last

198.75

198.45 **

197.66 *

197.20 **

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