2026/06/12 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
I have a bullish bias in the short term, but the higher timeframe is ranging, so the picture is hard to read.
I don’t think there’s much room to run either.
It might be fine to wait and see until price breaks out of the range or the range’s upper and lower limits become clearer.
Review
The range continued.
Right after I wrote the scenario, the chart formed a shape that looked like it would rise for a while, so a long was possible.
Since price climbed in a V-shaped reversal, the entry was a bit like chasing.
Price then broke above Line A, but it dropped back quickly, so I exited. 15 pips
There was another chance to go long after the New York session started, but when market conditions aren’t good, it’s better not to force trades.
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.
