2026/06/01 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Just a moment ago, a little before 10 am JST (01:00 UTC), there was a good entry point.
I’d like to buy either on another shallow pullback or after price breaks above.
As for the market context, both the daily chart and the 4-hour chart are taking on an uptrend shape, and the 1-hour chart has also made a bullish shift.
For now, there isn’t much reason to consider selling.
The only thing is that the 4-hour chart is near the highs, so I think there will be some selling pressure around Line A.
If it breaks above Line A, it might rally sharply.
Review
It was Scenario B.
This was a long from circle ①, the pullback after price broke above the recent high once the scenario had been written.
Price then broke through Line A, so I held on expecting more upside, but it formed a head and shoulders and started turning down (making lower highs), so at that point I exited. 20 pips
If you couldn’t get in at circle ①, entering from circle ② after the break is fine too.
In the end it didn’t extend, so it would have been a small profit or a breakeven exit.
I didn’t get the scenario out in time, but the blue circle first thing in the morning was the easiest entry opportunity.
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.
