GBP/JPY may rise 97 - 145 pips

199.88 is our pivot point.

Our preference

As long as 199.88 is support look for 202.04.

Alternative scenario

Below 199.88, expect 199.08 and 198.60.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 200.38 and 200.04).

Supports and resistances

202.99 **

202.51 *

202.04 **

201.56

200.59 last

200.19

199.88 **

199.08 *

198.60 **

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