2026/03/11 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
The uptrend that started at the end of last week is now in full swing.
If you’ve been holding a position since yesterday, it’s probably getting close to time for profit-taking.
From here, all we can do is wait for a pullback, so the next opportunity will come in the European session or later.
Review
It was Scenario B.
You could treat circle ① as Scenario A and enter, but the pullback is a bit shallow relative to the size of the rally, so I’d wait and see.
If anything, going for a short-term short from the blue circle would also work.
After that, price came down to the C line, and the long is from circle ②, where the lows are turning up.
I think the best approach is to take profit once near the recent high and then go for it again from circle ③ after the CPI release, but holding from circle ② all the way to the 213 target is also fine.
Holding gets you about 50 pips; trading twice at circle ② and circle ③ gets you about 68 pips.
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.
