2026/10/19 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
The 4-hour chart (H4) has broken through a key level and is now forming a pullback.
If it rises from here, it looks like it could target the key level on the daily chart.
In the near term, the short-term bias is still bearish, but price is starting to break above that range.
From here, I’d like to wait for a pullback and look for a buy.
Review
It played out as Scenario A.
Went long from the pullback at ◯1 after price broke above the recent high.
Took profit for now near the highs on the 1-hour timeframe. 20 pips
After that, I waited for another pullback and went long from ◯2.
This was a spot that could also be read as a short-term sell, so I went long only after seeing price turning up (making higher lows) on the lower timeframes.
It didn’t reach the target, but I took profit when price started turning down (making lower highs). 35 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.
