2026/04/09 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
I’m leaning toward buying, but we’re near the highs on the daily chart, so the expectancy isn’t that high.
It’s also a tough environment to sell into, so maybe that’s why the chart’s movement has become sluggish.
Even if selling under Scenario C, the chances of a big drop aren’t that high, so neither side offers much expectancy right now.
Review
It played out as Scenario A.
The long came from a small pullback after price broke through Line A, which had been capping it the whole time.
The 213 target got taken out easily, so I held until a turning down (making lower highs) move showed up.
I took profit (70 pips) when the upward momentum faded and price broke below the pink line, but if I had waited a bit longer, it reversed and rallied again.
Whether to take profit or hold here comes down to the time of day and your trading approach.
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.
