GBP/JPY may rise 145 - 213 pips

Our pivot point is at 184.91.

Our preference

The upside prevails as long as 184.91 is support.

Alternative scenario

The downside breakout of 184.91 would call for 183.76 and 183.07.

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 185.49 and 184.96).

Supports and resistances

189.35 **

188.66 *

187.97 **

187.29

185.84 last

185.36

184.91 **

183.76 *

183.07 **

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