2026/07/28 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
Price broke below the line that had been acting as support all along, resulting in a bearish shift.
However, the daily chart still maintains a bullish bias, so I’ll be trading while keeping in mind that price could turn back up at some point.
The target area for a retracement is the zone marked in red, from around the current blue line up to the recent high.
Review
It was Scenario B.
Short from ○1, where price is turning down (making lower highs) after a double top inside the red zone.
Once it broke below the blue line and dropped, this is a pattern where you can just move the stop-loss level to breakeven, place a limit near the round number 217.5 at the recent low, and leave it.
Either the limit gets hit on the drop right at midnight JST (15:00 UTC), or you take profit on the decline after that. A little under 40 pips.
On the chart, I close out just before midnight JST (15:00 UTC). 20pips
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.
