2026/04/02 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Price is at a level that looks like it could become the pullback after breaking the 1-hour high.
Buying from around here is an option, but the pullback is a bit shallow relative to yesterday’s rise.
The daily chart has made a bearish shift, and the area around the green line just above A is a good spot for selling the rally.
So the market remains a tricky one.
On a day-trading level it looks likely to rise for now, but it doesn’t seem to have the momentum to keep climbing.
Review
It was Scenario C.
The lower timeframes, which had been falling, never found a floor; they kept turning down (making lower highs) and eventually broke to the downside.
The short is from ○1, but the price action just before it already gave the feeling that “this isn’t going to rally (in other words, it’s going down),” so you can short on the retracement after the break below the C line on the 5-minute chart (M5) level.
Take profit where it reached the 210.5 target and started turning up (making higher lows). 28pips
After that, price retraced back to the C line once more and then turned down at ○2, so short again from there using the same logic.
This one also stopped falling at 210.5, so take profit there. 30pips
On the 4-hour chart (H4), price had broken above the high, and this was the first pullback after a move that looked like it might be a bullish shift, so there weren’t many reasons for it to keep falling much further.
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.
