2026/03/18 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Price has been grinding higher since yesterday. On the 1-hour chart (H1), it’s sitting in a price zone that would be a buying-the-dip point.
However, the daily chart and the 4-hour chart look like they’ve made a retracement and are set to head lower, so this isn’t a situation where buyers will keep piling in.
It looks like this tricky market will continue for a while.
Review
It was Scenario B.
Price briefly broke below Line C, so I’d wait and see, but from there it started turning up (making higher lows) and moving higher, so it’s a long from circle ①.
Take profit at the pink target line. 15 pips
Given the market context, holding isn’t really an option, and there isn’t much room to run either, so there’s no need to force this one.
After that, you could buy again from circle ②, but you’d probably want to take profit around the pink line on this one too.
The market context isn’t good, so at times like this, looking at other currencies or simply not trading is also a valid choice.
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.
