GBP/JPY may rise 120 - 179 pips

186.33 is our pivot point.

Our preference

Rebound towards 188.92.

Alternative scenario

Below 186.33, expect 185.35 and 184.76.

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 (187.08) but below its 50 period moving average (187.48).

Supports and resistances

190.09 **

189.51 *

188.92 **

188.33

187.13 last

186.72

186.33 **

185.35 *

184.76 **

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