GBP/JPY may rise 122 - 180 pips

193.82 is our pivot point.

Our preference

Rebound towards 196.40.

Alternative scenario

Below 193.82, expect 192.85 and 192.28.

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 above its 20 period moving average (194.51) but below its 50 period moving average (194.74).

Supports and resistances

197.55 **

196.97 *

196.40 **

195.82

194.60 last

194.20

193.82 **

192.85 *

192.28 **

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