GBP/JPY may rise 124 - 182 pips

Our pivot point is at 194.34.

Our preference

Rebound towards 196.97.

Alternative scenario

Below 194.34, expect 193.37 and 192.79.

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 stands below its 20 and 50 period moving average (respectively at 195.16 and 195.35).

Supports and resistances

198.13 **

197.55 *

196.97 **

196.39

195.15 last

194.72

194.34 **

193.37 *

192.79 **

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