GBP/JPY may rise 97 - 145 pips

Our pivot point stands at 197.10.

Our preference

Rebound towards 199.23.

Alternative scenario

Below 197.10, expect 196.30 and 195.82.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 197.82 and 198.67).

Supports and resistances

200.18 **

199.70 *

199.23 **

198.75

197.78 last

197.42

197.10 **

196.30 *

195.82 **

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