GBP/JPY may rise 80 - 119 pips

Intraday: rebound towards 187.29

Our pivot point is at 185.56.

Our preference

Rebound towards 187.29.

Alternative scenario

Below 185.56, expect 184.90 and 184.51.

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 stands below its 20 and 50 period moving average (respectively at 186.18 and 186.59).

Supports and resistances

188.07 **

187.68 *

187.29 **

186.90

186.10 last

185.81

185.56 **

184.90 *

184.51 **

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

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