2026/09/03 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
Price made a bearish shift on the 4-hour timeframe and the decline accelerated sharply.
The downtrend looks very likely to continue today as well.
Selling the rally around 9 am JST (00:00 UTC) was a perfect selling opportunity, but if you’re looking to enter from here, you’ll need to wait for a retracement.
With this much momentum, there may not be a big retracement.
I think it’s best to look for sells on the assumption that the trend on the lower timeframes stays intact.
On the chart above, price is unlikely to retrace as far as B.
Review
It went down.
There was no retracement like the one I drew in the scenario, but the decline continued.
It ended up falling as far as the daily chart suggested it could go.
The first trade was a short from ○1, where price formed a double top on the 5-minute chart (M5) during the retracement after the break below the 213 target.
I took profit on this one when price broke the next target of 211.7 and bounced back sharply.
After that, I shorted again from ○2, where price retraced once more on the 15-minute level and then turned down (making lower highs).
I took profit when the flow broke down after price had dropped to the recent low on the daily chart.
It turned into a bonus market where the two shorts could capture around 300 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.
