Jan 22, 2026 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
The overall flow is still bullish, but price action is starting to stall near the resistance zone.
I see the 213 area as the upper limit of the resistance zone, so if buying before it breaks through there, wait for downside stalling from below and then buy.
If buying on a break of Line A, trade with an exit scenario in mind in case the 213 line holds firm.
That’s the plan.
Review
It played out as Scenario A.
Price broke through Line A early on, so I was waiting for a pullback after that.
It didn’t pull back all the way to Line A, so I bought the bounce from circle ①, the pullback low on the 15-minute chart (M15).
I took profit around the target near 213.5 at the pink line, just as a double top was starting to form. 32 pips
After that I waited and saw, but this time price dropped back down to Line A.
Allowing for the possibility of a short-term bearish shift, I waited here too for the second touch of the level.
After price touched Line A twice, I bought at circle ② as it moved up.
Since it was getting late at night by then, you could simply take profit mechanically at the pink target line, but a rise to the recent high on the daily chart looked likely, so moving the stop-loss level to breakeven and carrying the position overnight into the next day would also work.
Taking profit at the target would have given 35 pips, while holding until the next day would have gained around 120 pips.
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.
