2026/02/16 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Not much has changed since Friday.
Price has been building a base at the lows, and the previous day closed as a bullish candle on the daily chart, so for now I’m looking to catch the retracement rally.
The bigger trend is still down, so once the retracement rally plays out, I plan to look for selling opportunities again.
Review
It was Scenario A.
The long is from circle ①, the S/R flip bounce after breaking out of the small morning range.
It lost momentum at a somewhat awkward level and came back down, so take profit where the double-top neckline breaks on the 5-minute chart (M5). 55pips
After that, go long from circle ②, where price makes higher lows after dropping back to Line A once more.
This is in the late-night hours, so the idea is to set a limit order at the target, set a trailing stop of about 45pip, and go to bed…
If you were watching the chart, exit after seeing the lack of momentum around 4 am JST (19:00 UTC the previous day).
If you left it alone, check the morning move and exit where it printed a bearish candle with a long upper wick.
That’s about 10–15pips.
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.
