2026/07/24 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

It’s been stuck in a range with no movement for a while, but it’s being held up by the support line on the 4-hour chart (H4).
Considering the daily chart is in an uptrend, if you don’t want the hassle, taking a position around here is also an option.
In that case, I think you can put your stop-loss level below the C line and set your take profit target near the recent high on the daily chart.

If you’re going for it as a day trade, try buying when price finds support at the current level and starts turning up (making higher lows).
Keeping in mind that it’s a range, exit if it looks like it’s turning down (making lower highs) near the range high.

If it breaks below the C line, the flow would be for it to drop another leg lower, so I’ll be looking for a short.

Review

It was a range.

The only tradable setup was the long from ○1, where price found support at the range low and turned in the short term.
Since it slightly broke above the recent high, I hold expecting a move higher, but it comes back down, so I exit. 11 pips

After that, there was nothing worth watching.