2026/02/03 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Price is near the 1-hour range high, but it’s starting to break slightly above it.
For now, I’ll wait for a pullback.
Opinions may differ on how to read the daily chart, but it seems possible that price hits resistance around 213, forms a head and shoulders, and then falls.
That said, at the day-trading level, I’m only considering buys for now.
Review
It was Scenario A.
Go long around the red circle, where price starts to reverse and rise on Line A.
It doesn’t extend right after entry, but the lows keep stepping higher, so hold.
Once it starts climbing in waves, I think it’s fine to move the stop-loss level to breakeven and set a limit at the target.
It gets closed out just after midnight JST (15:00 UTC the previous day). 70pips
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.
