GBP/JPY may rise to 206.46 - 209.49

Our pivot point is at 195.82.

Our preference

As long as 195.82 is support look for 209.49.

Alternative scenario

The downside breakout of 195.82 would call for 190.74 and 187.72.

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 199.14 and 195.62).

Supports and resistances

215.55 **

212.52 *

209.49 **

206.46

200.19 last

197.82

195.82 **

190.74 *

187.72 **

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