2026/05/22 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Still ranging.
I think a break above Line A would bring a rise to the next level up, but it’s having a hard time getting above it.
As for the sell scenario, from where we are now, a big drop doesn’t look likely right away.
I’ll start selling in earnest once it breaks below the yellow line under Line C.

Review

It was Scenario A.

A long from the red circle, which was the pullback after price had broken above Line A once.
Price couldn’t get past the round number 214 near the recent high, so I exited when it started losing momentum. 35 pips