GBP/JPY may rise 101 - 146 pips
Our pivot point stands at 160.63.
Our preference
The upside prevails as long as 160.63 is support.
Alternative scenario
Below 160.63, expect 159.86 and 159.41.
Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 160.92 and 160.92).
Our pivot point stands at 160.63.
Our preference
The upside prevails as long as 160.63 is support.
Alternative scenario
Below 160.63, expect 159.86 and 159.41.
Comment
The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 160.92 and 160.92).