2026/08/05 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Technically, this is a situation where buying is worth considering. However, with intervention risk still in play, I don’t think a strong buying trend is likely to develop.
This price zone is where a role reversal on the 4-hour chart comes in, so if price breaks below the red marker, it looks like a good spot to start selling the rally.
Review
It was Scenario B.
Long from the higher lows off the range low.
Price breaks above Line A, but take profit where the rise stalls. 60 pips
As I wrote this morning, this isn’t a situation where price keeps climbing, so take profit promptly.
If you want to sell the rally after the break below the red marker, you could aim for a short around the blue circle, but the shape makes it hard to enter, so it’s fine to pass on it.
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.
