GBP/JPY may rise 111 - 159 pips

199.13 is our pivot point.

Our preference

The upside prevails as long as 199.13 is support.

Alternative scenario

Below 199.13, expect 198.32 and 197.84.

Comment

The RSI is above its neutrality area at 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 199.45 and 199.48).

Supports and resistances

202.34 **

201.86 *

201.37 **

200.89

199.78 last

199.45

199.13 **

198.32 *

197.84 **

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