GBP/JPY may rise 146 - 218 pips

189.25 is our pivot point.

Our preference

The upside prevails as long as 189.25 is support.

Alternative scenario

Below 189.25, expect 188.04 and 187.32.

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 above its 20 and 50 period moving average (respectively at 190.09 and 190.08).

Supports and resistances

193.92 **

193.19 *

192.47 **

191.75

190.29 last

189.73

189.25 **

188.04 *

187.32 **

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