2025/03/05 GBP/JPY Strategy
Overall, the upward flow seems to be getting stronger.
The question is whether the daily chart forms a pullback first or keeps rising from here.
For day trading, the key point in the near term is whether price breaks below 191.3.
Currently I have a bullish bias.
Scenario A
Price keeps rising, then I look to go long on the pullback.
This price zone acts as resistance on the longer timeframes, so watch out for false breakouts.
Scenario B
Price forms a small range and then rises.
I go long from the range low and watch whether it breaks through the range high.
Scenario C
Price drops first as the higher timeframe forms a pullback.
The immediate target is around 190.6, but I think a drop to an even lower line is quite possible.
Review
Until the evening data release, price moved in a range with the green line at 191.3 as support.
In the end, buying anywhere near the range low during this period would have let you take profit once the trade was in the green.
Realistically, ○1 is a good entry point.
○1
A buy entry based on the morning’s Scenario B.
I think some people exited with a small profit when price made lower highs after the entry.
If you kept holding with the idea of staying in until the market moved, since it was in a range, you could take profit around 192, the range high target, on the subsequent rise.
○2
The rise after things settled down following the data release → a buying-the-dip point.
The chart shape had changed here, so this point was not in the morning strategy.
Since it was late at night, treat it as a reference only.
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.
