GBP/JPY may rise 127 - 186 pips

187.26 is our pivot point.

Our preference

The upside prevails as long as 187.26 is support.

Alternative scenario

Below 187.26, expect 186.27 and 185.68.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 187.71 and 187.44).

Supports and resistances

191.14 **

190.55 *

189.96 **

189.37

188.10 last

187.65

187.26 **

186.27 *

185.68 **

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