2025/04/14 GBP/JPY Trade Strategy
The GBP/JPY trade strategy for 2025/04/14 is to buy.
As long as price doesn’t break below roughly the current price zone, I’ll look to buy.
The higher timeframe picture is unclear: the daily chart is shifting from a decline into a range, and the 4-hour chart is fully ranging.
Market conditions aren’t easy, so rather than jumping in carelessly, I’ll carefully time my entry.
Scenario A
Buying the dip, riding the 1-hour uptrend.
Target is around 189.5.
Scenario B
Buy if the support zone at the current price zone, around 187.5–187.3, holds.
The target here is the same as Scenario A, but I’m also keeping in mind that price may fail to clear the recent high and turn into a range or a decline.
Watch the price zone around 187.2.
Scenario C
Selling the rally after a break below the support zone.
Target is around 186.2.
Review
Price dropped and then rose, but on the 1-hour chart (H1) it was a rise after forming a pullback.
At ○1, it’s a tough call whether to read it as Scenario C and sell.
It’s acting as support/resistance (S/R), and it’s also a good level for a retracement relative to the size of the drop.
If you went short, you’d end up with a small loss or a stop loss.
The drop in Scenario C is a scenario where you enter after seeing a bearish shift on the 1-hour chart (H1) as well, so while price is above the blue line, you need to wait and see a bit.
Also, if you look closely at the 5-minute chart (M5), the upward flow on the 5-minute chart (M5) hadn’t broken down, so if you were carefully watching your timing, there was no point to enter here.
At ○2, which is buying the dip after the subsequent rise, you can go long.
Price then kept rising but didn’t reach 189.5.
Take profit either when price drops after forming a triple top on the 5-minute chart (M5), or where the 15-minute chart (M15) turns down (making lower highs) into a double top. 65–70 pips
This article reflects the author's personal view of the market. It does not recommend any specific trade; all investment decisions are your own responsibility.
