2025/05/29 GBP/JPY Trade Strategy

The GBP/JPY trade strategy for 2025/05/29 is to buy.

Price has risen sharply since midnight, and early risers had a good entry chance around 9 am JST (00:00 UTC).
If you’re looking to get in from here, aim for a bounce off line B.
There was also a chance at around 10:30 am JST (01:30 UTC), and on the current chart it would be a bit like chasing.
If price comes back to the line once more and holds firm, it’s a buy.

Scenario A
The strategy is to follow price if it breaks above, but be careful because this price zone is the recent high on the daily chart.
There’s also the pattern where it looks like it’s rising and then suddenly drops.

Scenario B
As written at the start.
The target is around 197.

Scenario C
If price breaks below line C at 195.6, I’ll look to sell the rally.
That said, there’s a high chance it heads higher again, so I won’t chase it too far.
The target is around 195.

Review

Scenario B in the first half → then it dropped and turned into Scenario C.

Circle ① long
It’s a shallow pullback after a big rise, but it’s at S/R, so by the book it’s a buy.
After entry it pulls back a little, but it’s a buy until it breaks below the C line, so this is a spot where you have to hold on.
It then rises once more, but I exit when it forms a clear double top and starts falling.

If you look closely at the lower timeframe, this exit point is where the lower-timeframe uptrend breaks down.

After that, it’s a short from circle ② on the retracement after the break below.
It keeps falling without much of a retracement, and I take profit when it reaches the line around 194.7. 82 pips