2025/04/11 GBP/JPY Trade Strategy

The GBP/JPY trade strategy for 2025/04/11 is: sell
There was an entry point first thing in the morning.
Price has now reached a key level, so I’m going to wait and see for a bit.
It’s a range, so I want to be careful with the timing of my entries.

Scenario A
A pattern that aims to catch the rise up to the line where yesterday’s drop started.
This is a long from the dead center of the range, so be careful not to get whipsawed.
It’s likely to be on the difficult side, so I don’t think you need to force it, but there’s a lot of room to run, so I’d like to go for it if a chance comes.
Target is around 188.2.

Scenario B
This is also a short from the dead center of the range, and the points to watch are the same as Scenario A.
Enter after confirming price turning down (making lower highs).
If the move stalls, take profit right away.
Target is around 186.2, the range low.

Scenario C
Selling the rally after a break to the downside.
The strategy will change depending on how far it falls after breaking down before it comes back.
As of now, I’ll consider selling if it comes back up to the range low line.
Target is around 184.

Review

As I wrote in the morning, price had already reached the key level, so it was mostly a range.
Around 4 pm JST (07:00 UTC), it finally looked like a bullish bias was justified.
However, price then pulled back deeply, so it was better to wait and watch one more wave.

After that, go long at the ○ on the pullback once price started turning up (making higher lows).
Then, once you confirm the rise heading into late night, move your stop-loss line to breakeven, set a limit just before the green line, and you can leave it alone.
If you were watching the chart, take profit where price pulls back from the green line. About 105 pips.