GBP/JPY may rise to 207.18 - 210.38

Our pivot point is at 195.81.

Our preference

As long as 195.81 is support look for 210.38.

Alternative scenario

The downside breakout of 195.81 would call for 190.45 and 187.25.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 199.40 and 195.50).

Supports and resistances

216.79 **

213.58 *

210.38 **

207.18

200.54 last

197.92

195.81 **

190.45 *

187.25 **

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