2026/07/22 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
The 4-hour chart is falling and the 1-hour chart is ranging, but the daily chart is starting to take the shape of a pullback.
I still want to look for buys with the daily-level uptrend in mind.
In the near term I’ve written up a sell scenario, but my working assumption is that price will break to the upside.
If it doesn’t break above, it’s a sell.
If buying, the blue line near the letter A will act as resistance, so stay cautious there.
Review
It dropped.
In the end, it fell without getting above Line A and moved down to the range low.
On the chart, the short would be from the blue circle, but in practice it plunged all at once just as I was starting to think about an entry, so I think getting in would have been pretty difficult.
It dropped more than 50 pips in one minute. There’s nothing you can do about moves like that.
After that, it retraced about half the move again, and from there I took a short-term trade, going short at circle 1.
It was a short hoping for a break below the range if I got lucky, but it stalled at the range low, so I took profit quickly and closed out. 22 pips
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.
