GBP/JPY may rise 111 - 156 pips

Our pivot point stands at 192.42.

Our preference

Rebound towards 194.70.

Alternative scenario

Below 192.42, expect 191.66 and 191.21.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 193.63 and 195.29).

Supports and resistances

195.60 **

195.15 *

194.70 **

194.25

193.14 last

192.72

192.42 **

191.66 *

191.21 **

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