GBP/JPY may rise 96 - 140 pips

199.12 is our pivot point.

Our preference

Rebound towards 201.10.

Alternative scenario

Below 199.12, expect 198.38 and 197.95.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (199.65) but under its 50 period moving average (200.01).

Supports and resistances

201.97 **

201.53 *

201.10 **

200.66

199.70 last

199.40

199.12 **

198.38 *

197.95 **

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