2026/07/08 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
The current range could arguably be read as a selling range, but since the higher timeframe flow is bullish, I’m keeping a bullish bias.
In the short term, price has risen to the range high, so if buying, I need to wait a bit longer.
I see the price zone marked with the blue line as a candidate for buying the dip.
Even if price breaks below the blue line, the bullish bias remains in place until it breaks below the C line.
Review
It was Scenario B.
○1 is where price was supported at the blue line I drew this morning, and you could judge that it wasn’t going to fall any further.
I go long from there.
I was targeting the recent high on the 1-hour chart (H1), but price broke through it, so I hold.
Given this flow, I think it’s fine to set the stop-loss level below the blue line around 217.5 and carry overnight into the next day.
If your basic rule as a day trader is to close out within the same day, take profit when it makes lower highs around dawn. 92pips
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.
