2026/08/19 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
Price is being capped on the upside and is making lower highs.
This is the price zone of the rally high on the 4-hour chart (H4), so profit-taking selling is likely to come in easily.
For day trading, I think a bearish bias is fine.
Review
It was Scenario B.
Price was capped cleanly at Line B, so it was an easy one to get into.
Short from ○1, the first retracement.
After that, price dropped sharply on remarks by officials, but then rallied back all at once.
Here, watch the move on the 1-minute chart and take profit once the bounce becomes clear. 40 pips
After that, price came back up to Line B once more, so with the same idea you could short from ○2.
Take profit where it bounces off the line marked with the blue marker. 60 pips
The blue-marker line is the 4-hour range low, so for the second short I think it’s also fine to place a take profit order just above the line in advance.
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.
