GBPJPY Bias Turns Neutral After Retreat From 216.08 High

On July 2, GBP/JPY pulled back from a two-month peak of 216.08 to trade near 215, shifting intraday bias back to neutral. The retreat follows the July 1 bullish turn after rebounding from 210.43, with 215.59 and 216.58 targeted while 212.36 support held. Speculation of Japanese intervention after the yen hit a 40-year low versus the dollar added caution, though carry-trade demand and key moving averages continue to limit downside. Longer-term, the uptrend toward 220.90 remains intact unless price sustains below the 55-week EMA at 207.52.