2026/03/16 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
On Friday, the rise from the pullback failed and price turned lower, so I currently have a bearish bias.
The 1-hour chart (H1) is in a range, and there are two options: sell after confirming it turning down (making lower highs) near the range high, or sell after it breaks below.
If it breaks above, I’ll aim for a rise that forms a retracement on the 4-hour timeframe.
Review
It played out as Scenario B.
Price came back up to Line A, and the short was taken from the red circle where the rise stalled.
Take profit at the 210.9 target, where price started making higher lows. 55 pips
After that, I’d keep waiting for a pullback to Line A, but since the chart starts to look like it may rise for a while, going for a long from the blue circle would also be fine.
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.
