GBPJPY London briefing — 2026-08-04

BIAS BEARISH. D1 structure confirms downtrend; H4 EMA bearish supports it, though H1 neutral suggests intraday chop. RSI at 41 shows room lower. KEY LEVELS R: 212.00, 219.65 | S: 211.50, 209.42 NEWS 🟡 Labor Cash Earnings YoY (JPY) – Tue 23:30 UTC 🟡 BoJ Minutes (JPY) – Tue 23:50 UTC 🟡 Services PMI (JPY) – Wed 00:30 UTC SESSION OUTLOOK Watch 211.50 hold through London close. BoJ Minutes into early Asia may trigger JPY volatility; break below support risks acceleration.

Key Levels

R: 212.000 · 219.651

S: 211.500 · 209.420