GBP/JPY may rise 148 - 215 pips

Our pivot point stands at 185.96.

Our preference

As long as 185.96 is support look for 189.03.

Alternative scenario

Below 185.96, expect 184.83 and 184.16.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (186.91) but above its 50 period moving average (186.24).

Supports and resistances

190.37 **

189.70 *

189.03 **

188.36

186.88 last

186.40

185.96 **

184.83 *

184.16 **

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