GBP/JPY may rise to 204.65 - 208.72

Our pivot point stands at 190.08.

Our preference

The upside prevails as long as 190.08 is support.

Alternative scenario

Below 190.08, expect 183.29 and 179.24.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 193.39 and 190.96).

Supports and resistances

216.85 **

212.79 *

208.72 **

204.65

196.02 last

192.75

190.08 **

183.29 *

179.24 **

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