GBP/JPY may rise 153 - 221 pips

Our pivot point is at 190.76.

Our preference

As long as 190.76 is support look for 193.93.

Alternative scenario

Below 190.76, expect 189.61 and 188.93.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (191.74) but above its 50 period moving average (191.39).

Supports and resistances

195.30 **

194.62 *

193.93 **

193.25

191.72 last

191.21

190.76 **

189.61 *

188.93 **

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