2026/02/05 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Price has reached a key level where the question is whether it can break above the daily chart high.
I’m basically keeping my bullish bias and will look for an entry after identifying where a pullback forms.
If it rises, things shouldn’t be difficult, but if it falls, the situation looks like it could get complicated in various ways.
Review
It went down.
Price failed to break above the high on the daily chart and dropped sharply.
Technically, this was a case of selling the rally after breaking through Line C, so a short from the red circle would have been the best entry.
However, that timing overlapped with a UK data release, so whether you could actually have taken that trade is questionable.
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.
