GBP/JPY may rise 102 - 149 pips.

GBP/JPY may rise 102 - 149 pips.

Our pivot point is at 208.93.

Our preference : Rebound Alternative scenario Below 208.93, expect 208.15 and 207.68.

Comment : The RSI is above its neutrality area at 50.

The MACD is above its signal line and negative.

The MACD must break above its zero level to trigger further gains.

Moreover, the price stands above its 20 period moving average (209.56) but below its 50 period moving average (209.86).