2026/03/23 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Leaning toward buying.
The daily chart looks set to move higher, but the 4-hour and 1-hour charts feel like they’re near the highs.
I’d like to pick out a good pullback and buy from there.
If price drops below the B line, both selling and buying may become difficult.
If it breaks the C line, I’ll consider selling.
Review
It was Scenario A.
Early on, price broke below the low, which made it feel like the range would continue, so I waited and saw.
After that, price broke above the high and came back to Line A again, and I went long at the red circle where the 5-minute chart (M5) was turning up.
It didn’t reach the target and started falling, so I exited. 35 pips
The rally had strong momentum, and in cases like this it often turns into a “round trip.” Also, the overall picture was a range, so I exited while I was still in profit.
If you had held, it would have been a breakeven exit.
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.
