GBP/JPY may rise to 207.10 - 210.45

Our pivot point stands at 194.16.

Our preference

As long as 194.16 is support look for 210.45.

Alternative scenario

The downside breakout of 194.16 would call for 188.59 and 185.28.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 198.14 and 194.76).

Supports and resistances

217.14 **

213.79 *

210.45 **

207.10

198.56 last

196.35

194.16 **

188.59 *

185.28 **

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