24/06/2022
12:24 PM (UTC+2)
GBP/JPY may rise 123 - 182 pips
Our pivot point is at 165.17.
Our preference
The upside prevails as long as 165.17 is support.
Alternative scenario
The downside breakout of 165.17 would call for 164.17 and 163.58.
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 165.45 and 165.33). Finally, the GBP/JPY has crossed above its upper Bollinger band (166.10).
Supports and resistances
169.21 **
168.62 *
168.02 **
167.43
166.20 last
165.56
165.17 **
164.17 *
163.58 **
Number of asterisks represents the strength of support and resistance levels
