2025/10/15 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

In the morning it looked like it might be a short-term buy, but after the drop around 9 am JST (00:00 UTC), I have a bearish bias.
The strategy is to wait for a retracement and sell.

Scenario A

If price breaks above the recent high, selling is off the table.
Basically I’ll switch to waiting for a pullback and buying, but it looks like it’s turning into consolidation, which will make it tricky to trade.
The target is around 202.5, and there isn’t much room to run, so depending on the situation I may just wait and see and skip it.

Scenario B

Right now a downward flow is starting to form.
I want to see price retrace once more from here, then look for a short where the rise stalls.
The target is around 201.4.

Scenario C

If price breaks below the C line, I’ll judge that the decline is continuing.
I’d like to wait for a retracement and take a short.
The target is 200.6

Review

It played out as Scenario A.

After breaking to the upside, price pulled back a bit deeper and the risk-reward improved slightly, so you could go long from the red circle, where the lower timeframes turned back up.
Take profit on reaching 202.5. 30 pips