2026/01/27 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

On the 4-hour chart, I’m waiting for the right moment to sell the rally, but in the current market I’m looking to buy.
I’m using around 211.5 as the target for the 4-hour retracement, so I’d like to catch the move up to there.

I think there’s also a chance it drops from the current range, and in that case I’ll sell along the lines of scenario C.

Review

It was Scenario A.

I went long from the red circle, the pullback after price broke above Line A.
I took profit where price seemed to stall at the green line around the 211.5 target. 38 pips