GBP/JPY may rise 147 - 219 pips

Our pivot point is at 189.85.

Our preference

The upside prevails as long as 189.85 is support.

Alternative scenario

Below 189.85, expect 188.64 and 187.92.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 190.68 and 190.86).

Supports and resistances

194.55 **

193.82 *

193.10 **

192.38

190.91 last

190.33

189.85 **

188.64 *

187.92 **

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