GBPJPY OVERVIEW British Pound / Japanese YenFOREXCOM:GBPJPYFxBmarketLikely Scenarios Bearish continuation (higher probability in the near term): If price fails to reclaim 212.000 decisively and breaks below ~208.000–210.000 support cluster → targets could extend toward 204.000 or lower (previous structure lows). Recent market commentary shows bearish pressure from stronger Yen expectations (BoJ policy normalization hints). Bullish recovery: A strong close above 212.000–214.000 would invalidate the recent bearish break and suggest the pullback was corrective → potential retest of 216.000 weak high or higher. Range-bound consolidation: Price could chop between ~208.000–212.000 for a while, especially if no major catalyst (e.g., BoE vs. BoJ policy divergence or UK/Japan data). The long-term structure remains bullish-biased overall (higher highs/lows dominated most of 2025–2026), but the recent break signals caution — watch for confirmation above 212.000 (bullish) or below 208.000–210.000 (bearish). Current price action around 210.628 looks like a make-or-break zone.