2025/11/19 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

The situation is similar to yesterday.
Short term I have a bearish bias, but I’m waiting for a bullish shift to go long.

Scenario A

Buying the dip after price breaks above yesterday’s high.
The pink line at 204.5 looks like it will act as a key level, so if price breaks above Line A and then pulls back to around the pink line, that’s an easy spot to buy.
Target is 205.2–3

Scenario B

A scenario where I buy from the bottom of the range.
I see Line C as the lower edge of the range.
Price might also stop falling around the round number of 204, just above it.
Once the decline stops, I’ll buy.
Target is 204.7

Scenario C

If price breaks below Line C, I sell.
Same as yesterday, but now that price has made another high, it’s starting to look like a double top.
If it drops, I want to wait for a retracement and sell.
Target is around 203.5

Review

It played out as Scenario B.

If you were willing to take on risk, the entry was a long from ○1.
Price was still falling at that point, but it was in a price zone where a rebound would make sense, and there were signs of higher lows.
If you didn’t want to trade against the 15-minute chart (M15) trend, the entry was a long from ○2.

For Scenario A after the break above, the entry was a long from ○3.
Take profit was at the green target line. No need to second-guess this one.

That’s roughly 110 pips from ○1 and 90 pips from ○2.