2026-03-30 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
On Friday, price failed to break above the daily chart high and has started to fall.
On the 4-hour chart (H4) as well, it’s fair to see this as a sell setup.
From here, I’ll be waiting for a retracement to go short, and I picture price forming a retracement somewhere between around Line B and Line A before dropping.
Even if it keeps falling from here, I’ll still be waiting for a retracement, but the retracement high area might shift a little lower.
Review
It went down.
Since price broke below the C line once, you could call this Scenario C, but you could also call it Scenario B.
The short is taken from where the pink line held and capped the price.
The target gets broken right away, so I wait for downside stalling and a turn up, but price keeps falling one-way and the position ends up being carried overnight into the next day.
I take profit (150 pips) once higher lows start to look likely, but since it’s early morning, it would also be fine to set a limit order near the pink line just above, or to set a trailing stop.
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.
