GBP/JPY may rise to 202.11 - 206.18

Our pivot point stands at 187.54.

Our preference

The upside prevails as long as 187.54 is support.

Alternative scenario

The downside breakout of 187.54 would call for 180.74 and 176.69.

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 190.07 and 192.05).

Supports and resistances

214.32 **

210.25 *

206.18 **

202.11

193.30 last

190.21

187.54 **

180.74 *

176.69 **

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