GBP/JPY may rise 147 - 219 pips

Our pivot point stands at 189.38.

Our preference

The upside prevails as long as 189.38 is support.

Alternative scenario

Below 189.38, expect 188.16 and 187.44.

Comment

The RSI is above 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 189.84 and 189.73).

Supports and resistances

194.04 **

193.32 *

192.59 **

191.87

190.40 last

189.85

189.38 **

188.16 *

187.44 **

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