2026/03/24 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

The daily chart and 4-hour chart are near the highs, and the 1-hour chart is in a range, so it’s a tough spot to get involved.
That said, the chart will always end up moving either up or down, and for now I think an upward move is more likely.
Working on the assumption that it breaks to the upside and picking up a pullback to buy, I’d like to buy if there’s a reversal somewhere between B and C.

Even though it’s hard to get involved near the highs, the lows have been turning up step by step, so there’s almost nothing supporting a sell.

Review

It was a range.

Following Scenario B, you can go long at the red circle, where price forms a lower wick near Line C and starts turning up (making higher lows).
Price stalls without rising, so exit. 19 pips
I think you could also make the call to exit at the peak just before that.

After that, there was nothing to do.