2025/09/23 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Exactly the same situation as yesterday.
But today, if price can’t get above Line A, selling from around there is also an option.

Scenario A
A break above Line A means another leg up.
I’d like to buy the pullback and target around 200.2–200.3.

Scenario B
The pattern of buying from Line B, the support line that has been holding since yesterday.
The top of the range seems to be a little below Line A, so a guide for closing out is around 199.7–199.8.
On the 4-hour chart (H4), it feels like a decline could come any time now.
If price rises to Line A and can’t break through, I think a strategy of going short is also good.

Scenario C
Selling the rally after a break below the range.
In this case, I want to aim for the 4-hour chart (H4) low, so the target is around 199.

Review

Based on the market conditions in the morning, there were no opportunities.

○1 played out just as I described in Scenario B, “short if it fails to break above Line A,” but it dropped so sharply that I think it was hard to get an entry.

After that, it came back up in a V-shaped reversal, so judging that the upside was the right call after all, you could go long from ○2 after the data release.
However, it again failed to break above Line A, and when it started making lower highs, that’s where you exit. 12 pips