2026/01/29 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
Short term, price is tracing a downward wave, and we’re waiting for a reversal.
Will the daily chart turn back into an uptrend, or will it drop another leg?
The market situation hasn’t changed much from yesterday, but it feels like there are fewer selling factors than yesterday.
Buying from here would put the stop loss far away, so ideally price would drop to around C first.
Review
It was Scenario B.
A long from circle ② after the downtrend on the 15-minute chart (M15) turned into an uptrend.
Take profit as price came back down after reaching the 212 target. 35 pips
Buying from circle ①, where higher lows start to form, is also an option, but the case for a rise from there is weak, so the risk is higher.
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.
