The GBPJPY broke through the 200 hour moving average (205.83) but could not get through the 100 hour moving average at 206.21.  The pair is back down to the 200 hour moving average as the market regroups.

On a more intermediate term perspective, it seems the up and down action is suggesting a consolidation phase.  As a result, I would not be surprised if the daily momentum extends the range to the upside.