GBP/JPY may rise 100 - 145 pips

191.78 is our pivot point.

Our preference

Rebound towards 193.92.

Alternative scenario

The downside breakout of 191.78 would call for 191.02 and 190.58.

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 stands above its 20 period moving average (192.40) but below its 50 period moving average (193.11).

Supports and resistances

194.82 **

194.37 *

193.92 **

193.47

192.47 last

192.08

191.78 **

191.02 *

190.58 **

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