2026/02/17 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
If you went short around 10 am JST (01:00 UTC) on the retracement after price broke below yesterday’s support line, it’s about time to take profit.
From here, I’ll watch whether we get a bit of a retracement rally or a further break to the downside.
A drop after a shallow retracement is also possible, so I’m keeping a close eye on the price action around 208.5.
Review
It was Scenario C.
After breaking below the C line, price retraced up to the rally high and then started falling again, so I went short at the red circle.
I took profit where the decline stalled at the blue line around the 207.2 target. 74 pips
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.
