2026/10/16 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

In the near term, I’m watching the range from A to B, and I’d like to buy from the range low.
However, the 4-hour chart (H4) leans more toward selling, and the area around the blue marker just above is a key level.
So it seems I need to keep in mind that selling pressure is already starting to build.

It’s also a concern that on the 4-hour chart (H4), price has already broken below the recent low once.

Review

It was Scenario A.

Price broke above the range high and formed a turning-up (making higher lows) pattern, so I went long at circle ①.
After that, as price reached the target, I watched closely to see whether the rise would stall, but it broke through without turning down (making lower highs).

Around 2 am JST (17:00 UTC the previous day), it clearly turned down (making lower highs), so I took profit. 75pips