However, intervention risk remains, as both Japan and the US have signalled that they could step into the currency market again if needed. Technical analysisThe intervention-driven sell-off pushed GBP/JPY below the 50-day, 100-day and 200-day Simple Moving Averages (SMAs) and briefly below the 210.00 psychological mark. On the daily chart, GBP/JPY holds just above the 100-day SMA near 214.50, while the 50-day SMA around 215.50 caps immediate gains. On the downside, a break below the 100-day SMA would expose the 200-day SMA near 212. On the upside, a daily close above the 50-day SMA could open the door to a continuation of the bullish move.