2025/06/20 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

It looks like it might finally break to the upside this time, but it’s still in a range.
There’s almost nothing pointing to selling, so it’s really just a question of “where do I buy?”

Scenario A
Go long on the pullback after a break to the upside.
There’s a horizontal line at 196.2, so I’ll use that as my reference, but I’m also allowing for a pullback as deep as around 196.
It’s still rising, so it depends on how the chart shapes up from here.
Target is around 196.8.

Scenario B
For now, the top candidate for a pullback is around 196.
This might be the last chance before it moves up.
The zone shaded in red is still a buy, but it’s a zone where I may not buy aggressively.

Scenario C
If price breaks below here, it moves back inside the daily chart range.
Target is around 195.4.

Review

It turned out to be a buy under Scenario B.
The price action made it look like it might break lower, but it just barely held its ground.

There were two entry opportunities.
If you kept your bias intact while watching, you could go long from the first red circle.
It was a spot where the price looked likely to reverse, at least on the 5-minute chart (M5).

After that, the next long was from the other red circle.
By this point, a clear upward flow had formed.
It was a pullback after the break above the zone where I had said in the morning that I didn’t really want to buy aggressively.

From there I held toward the target, but it fell slightly short, so I took profit when the price started losing momentum. 45 pips