GBP/JPY may rise to 197.71 - 202.52

180.66 is our pivot point.

Our preference

Rebound towards 202.52.

Alternative scenario

The downside breakout of 180.66 would call for 172.63 and 167.85.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 189.56 and 196.27).

Supports and resistances

212.14 **

207.33 *

202.52 **

197.71

188.00 last

183.81

180.66 **

172.63 *

167.85 **

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