Today's intraday bias is short on GBP/JPY today. My reasoning is based on price currenlt trading within a macro level 3 enviroment following what i belive is the completion of the Yen's recenr bul;lish cycle.

Price is currently rotating between 209.50 and 213.00, a range established during last night's Asian session. M,y expectation is that liquidity will continue to be accumilated within this range before before the next directioinal move develops.

A few intraday confluences support today's short idea:

- ADR is approximatly 80% complete at the time of entry, leaving limited room for further expansion.
-Three consecutive bullish pushes have formed from Monday's Asian session low.
-The 50 pip stop hunt zone has now been filled, increasing the probability of an intraday reversal.
-The 15-minute TDI RSI is showing overbougght conditions, although the higher timeframes remain supportive of the broader bullish structure forming.

Because of this, i still consider the higher timeframe bias to be bullish, but i believe there is an opportunity to capture an intraday pullback before the trend potentially resumes.

My stop loss is positioned above the local intraday structure rather than the High of the Week. While i would normally prefer a wider invalidation level, today's objective is to capture a 1:2RR intraday move rather than a larger swing position.

Entry: 212.250
Stop Loss: 212.930
Target: 210.850

I've not traded Yen pairs for some time, so this is partly an opportunity to become reacquainted with their behaviour. My overall trading process remains unchanged, as i apply the same methodology across all liquid markets.

Finally, i'd like to thank my friend @JCW-Fx21 for developing the updated BTMM-style indicator model featured on my chart. A tremendous amount of time and effort has gone into it and it's great to see the project available for public use.