GBP/JPY may rise 171 - 243 pips

Our pivot point is at 190.45.

Our preference

The upside prevails as long as 190.45 is support.

Alternative scenario

Below 190.45, expect 189.24 and 188.52.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 191.20 and 190.74).

Supports and resistances

195.31 **

194.59 *

193.86 **

193.14

191.43 last

190.93

190.45 **

189.24 *

188.52 **

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