2025/06/26 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

Overall, this looks like a pullback forming within a broader uptrend.
If you’re trading with a bigger-picture bias, it’s also a valid option to wait until the 15-minute chart makes a bullish shift.

Scenario A
Buying the dip after price breaks above the area where the current decline started.
Target is around 199.5

Scenario B
Selling the rally to catch the downswing as the pullback forms.
Target is around 197.6

Scenario C
Price is currently holding at the 198 round number.
If it breaks below there and forms support/resistance (S/R), I’ll sell.
Target is likewise around 197.6

Basically, don’t forget that the market is in an uptrend, so don’t chase shorts too far.

Review

First, I sold at ○1 under Scenario B.
This one ends up as a stop loss. -10pips
The blue line at 197 is a level that could act as support, so if you read it as higher lows from there, you could also take a breakeven exit. Normally, though, it’s too early to decide on a breakeven exit, so I cut the loss after seeing the break above.

After that, I go short at ○2, selling the rally after another break below.
There isn’t much room to run to the target here, but I enter anyway in case it does break lower.
I take profit where it looks like it’s about to bounce off the 197.7 line. 12pips

In the end, it was just a range.