Intraday bias in GBP/JPY is turned neutral with current recovery and some consolidations would be seen above 209.55 temporary low. Risk will stay on the downside as long as 55 4H EMA (now at 215.33) holds. Below 209.55 will extend the fall from 219.56 to 38.2% retracement of 184.35 to 219.56 at 206.10.
In the bigger picture, as long as 55 W EMA (now at 208.85) holds, the long term up trend is still expected to continue. But some more consolidations should be seen below 219.56 medium term top first. However, sustained break of 55 W EMA will argue that it’s already in a medium term down trend to 184.35 support and below.
 holds. Below 209.55 will extend the fall from 219.56 to 38.2% retracement of 184.35 to 219.56 at 206.10.){kind=link}