2026/01/19 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
Price is stalling at what might be a selling-the-rally point.
It’s making higher lows and seems to be rising in the short term, but once it starts turning down (making lower highs), it’s a situation where we can go short.
The daily chart is at a support zone, so I want to keep that in mind while looking to sell for a day trade.
Review
It played out as Scenario A.
There was no turning down (making lower highs) either, so there was no point to get in short.
After that, price broke through Line A, so I switched my bias and went long from the red circle, which was the first pullback.
Since this runs into the late-night hours, I think it’s fine to just set a limit at the target blue line (44 pips), but if you’re watching the chart until morning, take profit on the sense of lower highs around 4 am JST (19:00 UTC the previous day).
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.
