2026/09/11 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

After the big move on Monday, it looked like the market would settle into a range for a while, so I took a break. But now the chart is starting to take a shape that could lead to the next move.

In the near term, price is rising on a short-term basis, but if the rise stalls here, the flow turns back down again.
I see the top of the range around Line A, so if price breaks above it, this could turn into a daily chart-level retracement.
Today is a day to figure out which of the two it will be and trade accordingly.

Review

It was Scenario B.

○1 was the retracement after a short-term drop, and it’s a price zone that becomes the rally high on the 15-minute chart (M15).
The stop distance could also be kept tight, so it was a good entry point.

After entry, price touched the 207.3 target and then started to bounce back, so I took profit early. 98 pips
Since it was Friday night, holding overnight wasn’t an option. That meant closing early was the right call.