2026/09/29 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

I’m keeping the bearish bias from yesterday, but the market is trickier than it was yesterday.
Looking at it as a large range, it seems best to keep Line A through Line C in mind, but once price gets near Line A, it’s likely tracing an upward wave in the short term, so caution is needed.

If you’re aiming for a short-term trade, I think it’s fine to consider selling along the lines of the blue arrow.

Review

It was a range.

With the blue arrow scenario, you could also enter at the red circle, which is the retracement after the breakout.
I think you could take about 40 pips down to the range low.

It doesn’t look like it’s forming clear waves on the 1-hour chart (H1), so I think it’s also fine to pass on this one.