Intraday bias in GBP/JPY is back on the upside with 215.59 resistance. Rebound from 210.43 is resuming and should target 216.58 high. For now, risk will stay on the upside as long as 212.36 support holds, in case of retreat.
In the bigger picture, there is no clear sign of trend reversal yet. The long term up trend could still extend to 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90 on resumption. However, sustained break of 55 W EMA (now at 207.52) will argue that it’s already in medium term down trend for 184.35 support.
