GBP/JPY may rise 93 - 140 pips

200.15 is our pivot point.

Our preference

The upside prevails as long as 200.15 is support.

Alternative scenario

Below 200.15, expect 199.37 and 198.91.

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 200.62 and 200.55). Finally, the GBP/JPY has crossed above its upper Bollinger band (200.83).

Supports and resistances

203.20 **

202.74 *

202.28 **

201.81

200.88 last

200.45

200.15 **

199.37 *

198.91 **

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