2026/01/14 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
It’s been rising in a straight line, which makes it hard to get in, but I judge the 15-minute chart (M15) to have made a bullish shift again.
I’d like to target a pullback from here.
It’s been rising the whole time, but there’s no reason at all to sell, so I’m just waiting for the timing to buy.
I’ll look at the stop-loss level and the target, and buy if the risk-reward gets good.
Above here, there’s a horizontal line around 215.8 that I drew about 8 years ago.
I think it will rise up to around there over a certain amount of time.
Review
It was Scenario C.
After the break below the recent low, you could go short at the red circle on the S/R flip bounce.
However, this was actually a sharp drop driven by politics, so it wasn’t an easy setup to time.
With this kind of setup, the stop-loss level also ends up far away.
If you entered on quick reflexes, you would take profit when the 213 target was reached. 44 pips
Here too, if you didn’t take profit on the first touch, I think holding until the second leg down would have been mentally tough.
Price action was choppy, and after hitting support it came back near breakeven with a long lower wick…
I’d say this day is not counted.
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.
