GBP/JPY may rise 99 - 143 pips

Our pivot point stands at 188.86.

Our preference

Rebound towards 191.12.

Alternative scenario

Below 188.86, expect 188.11 and 187.67.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 189.89 and 190.68).

Supports and resistances

192.01 **

191.56 *

191.12 **

190.68

189.69 last

189.15

188.86 **

188.11 *

187.67 **

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