GBP/JPY may rise 126 - 185 pips

186.61 is our pivot point.

Our preference

The upside prevails as long as 186.61 is support.

Alternative scenario

Below 186.61, expect 185.62 and 185.03.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 187.25 and 187.40).

Supports and resistances

190.48 **

189.89 *

189.30 **

188.71

187.45 last

186.99

186.61 **

185.62 *

185.03 **

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