2026/04/27 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
I have a bullish bias, but price is near the highs on the daily chart and the movement is sluggish.
If anything, it’s turning down (making lower highs), so if it can’t break above this area, looking for a short-term sell is also an option.
If buying, I’ll look for a bounce around Line C, or a pullback after price clearly breaks above Line A.
Scenario C is a sell targeting a drop to the blue line below it.
Review
It was a range.
Under Scenario A, buying at the red circle is fine. On the 5-minute chart (M5), the price forms higher lows and takes on a shape that looks ready to rise from there.
However, as I wrote in the morning, this isn’t a situation where it has “clearly broken above Line A.”
The red line just above is a horizontal level acting as a key level, so since we’re near the highs, this is a spot where you don’t need to force a trade.
If you bought at the red circle, the price drops sharply right away, so it ends in a breakeven exit.
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.
