Oct 13, 2026 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

I’m looking for a pullback within the range and then timing the move higher.
It seems better to treat the key levels as somewhat wide. In particular, even if price breaks above the upper zone, there’s still the recent high overhead, so I’ll likely need to time the entry while watching how the chart shapes up.
Waiting until price clears the recent high at 210 will most likely mean the timing is too late.

Right now, on a short-term bias, selling could be considered, but I think trade management would be difficult, so it’s probably better to wait for a reversal.

Review

No trade.

Price bounced from below, but it didn’t really feel like a setup worth entering.
Technically, I think buying from the red circle is fine, but after such a sharp rebound you’d be buying from a fairly high point in the range, so if you take it, make it a short-term trade.