2026/11/05 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
I’m keeping a bullish bias, but I’m watching whether price holds here or drops another leg.
If it holds the current price zone and turns back up, I’d like to buy, but if it breaks below here, I’ll switch to looking for a short for now.
It’s a similar strategy to yesterday’s, but this time there’s room for a bigger move to the downside.
Review
It went down.
In the first half, I was waiting for the right timing based on Scenario B.
The decline stopped and a saucer bottom started to form, so I went long at circle ①.
Price didn’t rise much here and started turning down (making lower highs), so I exited for now.
It bounced a little on the UK interest rate decision, but the rise didn’t last and it fell instead.
This time, following Scenario C, I went short at circle ②, the retracement after breaking below the range low.
I took profit when price nearly reached the target and the decline started to stall. 65 pips
In the end it fell a bit further, but the price around this blue line is where the pullback low on the 1-hour chart (H1) sits, so I think taking profit without hesitation is 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.
