2026/03/10 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Right now it’s a buy, but we’re near the highs on the daily chart, and even the 1-hour chart is starting to form a double top or a head and shoulders.
I’m leaning toward buying for now, but if it breaks below, it’s a sell.
Even so, the bigger trend is still a buy.
Review
It was Scenario B.
Go long from circle ①, where price makes higher lows near Line C.
Opinions may differ on whether to take profit at 212.1 or hold on the view that price will keep rising.
Taking profit there would only be about 20 pips, so it’s also a good idea to move the stop-loss level to breakeven and hold.
After that, going long from around circle ② after the breakout is also good.
Price doesn’t extend right away here, so you might feel like closing out, but if you entered from circle ②, your stop loss would be below around 211.5.
This is a moment to look at the bigger-picture bias and hang in there.
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.
