2026/04/10 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Price has broken through a key level on the daily chart and is rising.
I’m still keeping a bullish bias, but in the near term the 15-minute chart (M15) looks like it may be forming a head and shoulders.
The question is whether it rises again from the C line, or makes a pullback on the 4-hour level first.
Review
It went up.
In the morning it looked like it might form a head and shoulders, but it didn’t drop any further and climbed instead.
You could judge around ○1 that it wasn’t going to fall and would rise, so entering around there would have been ideal.
The risk-reward is good too, so it’s worth taking the risk.
Take profit where it starts coming down from the green line near the 214.3 target. 70 pips
It’s a key level on the daily chart, and since it’s Friday, you can judge that further upside is unlikely.
If you couldn’t get in at ○1, going long from ○2 under Scenario A is also fine.
From there it’s about 35 pips.
Both pullbacks were fairly shallow, so this is the kind of move that leaves you behind if you take it easy.
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.
