2026/01/07 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Price is hovering around the top of the 4-hour range, but the 15-minute bias is to the sell side, so it seems better not to get involved at an awkward level.
That said, selling is hard to justify here, so it’s really just a matter of waiting for a good moment to buy.

The choice is between waiting for a pullback after price breaks above A, or buying once it drops to around C and stops falling.

Review

It moved down.

Short from the red circle under Scenario C.
Take profit on reaching the pink line around the 211 target. 18 pips

After that, price came back up once more, so I’d like to sell from the blue circle using the same logic, but it’s hard to get involved because it was making higher lows just before that.
Even if I did sell, I’d probably want to close out around the faint red circle that came after.