GBP/JPY may rise 108 - 155 pips.

GBP/JPY may rise 108 - 155 pips.

Our pivot point is at 209.24.

Our preference : Our next up target stands at 211.73 Alternative scenario Below 209.24, expect 208.46 and 207.99.

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 is above its 20 and 50 period moving average (respectively at 210.01 and 210.07).