2025/10/24 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Price is approaching a level that looks likely to act as a pullback on the 4-hour and 1-hour charts.
If a reversal move shows up, I’d like to ride it.

Scenario A

Buying from around Line B is the first choice, but if price rises without dropping much, I’ll wait for a pullback after it breaks above the recent high.
The target is 203.9, but I’d like to aim beyond that, up to the daily chart high of 205.

Scenario B

This is a buy scenario from a double bottom around Line B.
The risk-reward is good, so this is a point I want to target aggressively.
The target is the same as Scenario A.

Scenario C

If price breaks below Line B, buying right away is off the table.
On a day-trading level, I’ll be looking to go short by selling the rally.
Target around 202.9

Right now it’s ranging in the short term, so there’s no need to rush in yet, but the stop distance is tight, so if you can’t watch the charts during the day, it’s reasonable enough to just buy now.

Review

It was Scenario A.

Price rose from the morning scenario without dropping, so I went long on the bounce off Line A.
I took profit when price reached the 203.9 target and printed an upper wick. 30 pips

After that, the price action became unclear, so I waited and saw and called it a day.

At the time of the morning scenario, it was already fine to buy, so with an earlier entry you could have taken around 50 pips.