2026/04/03 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Things have become clearer than yesterday.
It looks like a move higher for now.
The daily chart is still testing a retracement within a downtrend, so this isn’t a situation where you can take a big long.
It would be nice to grab a move up to around the recent high on the 4-hour chart and finish the week.
Review
It was Scenario B.
That said, it ended without extending much.
The long entry was where the lower timeframes stopped falling at the pink line near the letter B.
This day had NFP (nonfarm payrolls), so you trade on the assumption that you’ll close out before the data release.
The 5-minute chart (M5) turned into a range, so you exit either when price comes down from the range high or around the point where it starts turning down (making lower highs) before the data release.
That’s about 5–15 pips.
Also, you’re better off not choosing to hold through NFP.
Sometimes price extends strongly in the trend direction just as the technicals suggest, but it can also plunge like it did this time.
When it plunges, your stop loss often doesn’t work and you get hit with large slippage.
There’s no need to make trades that turn into gambling; just taking what you can take is plenty.
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.
