GBP/JPY may rise 135 - 194 pips

Our pivot point stands at 193.08.

Our preference

Rebound towards 195.81.

Alternative scenario

Below 193.08, expect 192.09 and 191.51.

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 194.19 and 194.68).

Supports and resistances

196.98 **

196.39 *

195.81 **

195.22

193.87 last

193.47

193.08 **

192.09 *

191.51 **

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