2025/09/17 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

Both the 15-minute and 1-hour charts are bearish, but the 4-hour chart is at a level where price might bounce from here.
Keeping that in mind, I’ll look for selling opportunities.

Scenario A
A break above the B line would be a bullish shift, but in practice I’d wait until price clears the light red support/resistance (S/R) line.
After that, I’ll aim to go long on the pullback.
Target is 200.6

Scenario B
I’m looking to sell with the B line as the upper limit, but a sell remains possible up to the high around 200.1.
I’ll judge it based on how the chart shapes up.
Target is 199.5

Scenario C
I see the blue line drawn at 199.84 as a support line, but on the 15-minute chart (M15) price has broken below it several times.
This scenario is to sell the retracement after price breaks the C line at that low.
I’m picturing the retracement reaching roughly the blue line.
Target is likewise 199.5

Review

It was Scenario B.

After the UK CPI release at 3 pm JST (06:00 UTC), I went short when the price dropped from around the morning’s B line.
Took profit when it reached the 199.5 target. 40 pips