GBP/JPY is staying in consolidations below 217.99 temporary top and intraday bias remains neutral. Deeper pullback cannot be ruled out, but downside should be contained above 214.69 support to bring another rally. On the upside, above 217.99 will target 220.90 fibonacci projection level next.
In the bigger picture, the long term up trend is in progress. Next target is 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90. For now, outlook will remain bullish as long as 55 W EMA (now at 208.22) holds, in case of pullback.
