Snapshot: GBP/JPY is trading at 215.75, up 0.34% today, driven by a broad risk-on sentiment reflected in rallying US futures and a weaker dollar (DXY at 98.36, down 0.31%). No major data releases are scheduled before the NY close.
- A sustained break above 215.75 could open the door for a test of the 216.50 level, last seen in 2008.
- Watch for any risk-off catalysts during the NY session, particularly any geopolitical headlines that could trigger a flight to safety and boost the Yen.
Bias into NY: Bullish. The risk-on tone and dollar weakness supports further upside in GBP/JPY, targeting 216.50 if momentum holds.