2026/09/07 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
The price has fallen about as far as it can, and now it’s hard for it to move in either direction.
My impression is that it will take a bit more time before we see a big move, but in the near term I’d like to target short-term moves.
Review
It was Scenario C.
The short was from ○1, the retracement after price broke below Line C, the short-term support.
With price continuing to turn down (making lower highs), and the horizontal level and the MA pressing down from above, it was an easy spot to enter.
After that, price dropped sharply, so I took profit where it broke through the target and the lows started turning up (making higher lows) in the price zone of the next horizontal level down. 180 pips
With a new low already confirmed by the 4-hour candle close, there’s nothing supporting the long side, so I think holding would also have been fine.
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.
