2025/06/23 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

The buying flow continues from last week.
There aren’t many reasons to sell; the only thing to watch out for is that we’re at a key level price zone on the weekly chart.
The market opened with a gap, the gap closed around 9 am JST (00:00 UTC), and price is now rising, but I want to avoid rushing in and chasing it.

Scenario A
Buying the dip after a clear break to the upside.
This is a long aiming for support/resistance (S/R) off the high set at this morning’s open.
It’s unclear how far price will rise before the pullback, but depending on the situation, the yellow line around 146.4 could also be a candidate.
Watch for a reversal on the lower timeframe.

Scenario B
This is the pattern where price comes back into the range.
I’ll buy from around the range low of 146.2.
If it has turned into a short-term selling flow, the approach is the same: confirm a reversal on the lower timeframe.

Scenario C
If price breaks below around 146.2, it’s technically a sell.
However, around 145.7–145.9 is a price zone that should act as support, so watch out for a reversal back up.
Target is around 145.8.

Review

This was a long from the light pink entry point I described in Scenario A.
I took profit when price reached the green line at 147.5, which I had seen as a key level on the daily chart. 102 pips

However, I forgot to write a target in this morning’s Scenarios A and B.
Since I tally results based on how many pips I can earn by trading exactly as written in the scenario, this trade is not counted.