GBP/JPY may rise 104 - 147 pips

181.04 is our pivot point.

Our preference

Rebound towards 183.99.

Alternative scenario

Below 181.04, expect 180.32 and 179.90.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (181.95) but below its 50 period moving average (184.78).

Supports and resistances

184.84 **

184.42 *

183.99 **

183.56

182.52 last

181.32

181.04 **

180.32 *

179.90 **

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