2026/02/09 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
We’re in a range while the price tests the highs on the daily chart.
Around 12 pm JST (03:00 UTC) there was a good opportunity for selling the rally, but right now we’re in a price zone where buying and selling are mixed, so I’m waiting to see whether it retraces all the way up or breaks down.
Since it’s a range, the key is not to jump in at an in-between level and to wait for a key level.
Review
It was Scenario B.
Price briefly looked like it might break through Line A, but I went short at the point where a long bearish candle made a decline look likely.
I took profit when price reached the blue line around the 212.1 target. 110 pips
The target was reached here, and it’s also a 4-hour support level, so taking profit for now makes sense.
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.
