GBP/JPY may rise 98 - 144 pips

Our pivot point stands at 200.54.

Our preference

As long as 200.54 is support look for 202.62.

Alternative scenario

Below 200.54, expect 199.76 and 199.30.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 201.14 and 201.03).

Supports and resistances

203.55 **

203.09 *

202.62 **

202.16

201.18 last

200.84

200.54 **

199.76 *

199.30 **

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