2026/06/08 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Friday’s drop has turned the bigger picture bearish.
Price has fallen to a 4-hour key level, and from here we may see a retracement to the upside for now.

Since this is a long aimed at catching a retracement within a bigger bearish flow, you can’t take your eyes off it even after entering.
There may not be much room to run, either.
I think waiting for the 1-hour chart (H1) retracement and then looking for a short is also a fine strategy.

Review

It was Scenario C.

Short from circle ①, the retracement after breaking through Line C.
Since price breaks past the target, take profit where it bounces off the next yellow line below. 60 pips

The bigger trend is to the downside, so I think it’s also fine to start selling around the blue circle, where signs of lower highs begin to appear.