GBP/JPY may rise 139 - 206 pips

Our pivot point stands at 188.20.

Our preference

The upside prevails as long as 188.20 is support.

Alternative scenario

Below 188.20, expect 187.07 and 186.40.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 188.93 and 188.86). Finally, the GBP/JPY has crossed above its upper Bollinger band (189.23).

Supports and resistances

192.68 **

192.01 *

191.33 **

190.66

189.27 last

188.65

188.20 **

187.07 *

186.40 **

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