2026/01/12 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Price has climbed once again from the 4-hour range low up to the range high.
Right now it looks like it’s about to break above the range high.

All we need to think about is when to enter a long, so in a sense it’s simple, but be careful not to miss the move and end up chasing it.
Since this is the 4-hour range high, it’s a good idea to set clear exit criteria so you don’t end up buying the top.

Even if price breaks below the C line, the bigger trend is still bullish, so you can also wait for another bullish shift and go long.
If you’re going after the short-term drop, take profit when the sell target is reached.

Review

It was Scenario B.

A long entry on the 5-minute chart (M5) level turning up (making higher lows) after the price dropped close to Line C.
Took profit on reaching the 213 target. 70 pips