GBP/JPY may rise 96 - 142 pips
Our preference
The upside prevails as long as 162.39 is support.
Alternative scenario
Below 162.39, expect 161.62 and 161.17.
Comment
The RSI is above its neutrality area at 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 163.13 and 163.07). Finally, the GBP/JPY is trading above its upper Bollinger band (standing at 163.37).
Our preference
The upside prevails as long as 162.39 is support.
Alternative scenario
Below 162.39, expect 161.62 and 161.17.
Comment
The RSI is above its neutrality area at 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 163.13 and 163.07). Finally, the GBP/JPY is trading above its upper Bollinger band (standing at 163.37).