2026/06/17 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

We’re near the highs on the daily chart, so price is currently correcting from the high.
In the near term, I’d like to wait for it to stop falling somewhere and start turning up (making higher lows) on the lower timeframes.

The price zone marked in pink should act as some support, so I think there’s a slight chance it rises from here without breaking the current price zone, but since it’s already moved into a range, I expect it to drop to around B.

I’ll only switch fully to a bearish bias once it breaks below the blue line at C.

Review

It played out as Scenario C.

Short on the retracement after price broke below Line C, the pullback low.
Take profit when the 214.6 target was reached. 39 pips

If you had held after that, you could have caught the big drop, but since the drop was driven by economic data, holding would have been a gamble.