GBP/JPY may rise 149 - 221 pips

Our pivot point stands at 189.00.

Our preference

Rebound towards 192.22.

Alternative scenario

Below 189, expect 187.79 and 187.07.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (189.95) but under its 50 period moving average (190.55).

Supports and resistances

193.66 **

192.94 *

192.22 **

191.50

190.01 last

189.47

189.00 **

187.79 *

187.07 **

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