Forex technical analysis shows mixed trends for major currency pairs

Technical analysis for several major forex pairs indicates varying market trends. The GBP/JPY pair showed a strong rebound, bottoming at 207.06, though it recently stalled at 211.25. While the short-term bias is neutral, upside risk remains as long as the 207.06 level holds. In the long term, the upward trend from 2011 remains in progress.

Regarding other currency pairs, EUR/JPY is experiencing a recovery after an initial drop, though a broader bearish trend is expected to resume. EUR/GBP spiked toward the 0.8600 level, testing key resistance areas. GBP/CHF faced bearish pressure and is currently consolidating near recent swing lows, while GBP/JPY has faced moderate bearish pressure, trading near previous lows during a potential bullish correction phase.