GBP/JPY may rise 98 - 143 pips

191.38 is our pivot point.

Our preference

Rebound towards 193.73.

Alternative scenario

Below 191.38, expect 190.62 and 190.18.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 192.41 and 193.25).

Supports and resistances

194.63 **

194.18 *

193.73 **

193.28

192.30 last

191.67

191.38 **

190.62 *

190.18 **

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