2025/12/03 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Price is in a range squeezed between the 4-hour and 1-hour charts, but I’m basically looking to buy.
Higher lows are forming on the 4-hour chart, and the scenario is for a pullback to form on the daily chart followed by a move up.
Buy target is 206.6–7, but I’d like to aim for the recent high on the daily chart.
Sell target: 205.3
Review
It played out as Scenario B.
Given the market context, with the 4-hour chart set up to move higher, it was a day where all I had to think about was where to buy, on the assumption that price would rise.
The ideal entry was circle ① in Scenario B.
Once price passed the target, I set the limit at the blue line marking the recent high on the daily chart, and that was it. 115 pips
Looking at it on the 5-minute chart (M5), you could also treat it as Scenario A and go long from circle ②.
Normally, after the rise from circle ②, price comes back to the circle ② level once more, but when there is strong momentum, it keeps rising without pulling back, as it did this time.
This article reflects the author's personal view of the market. It does not recommend any specific trade; all investment decisions are your own responsibility.
