2025/06/24 USD/JPY Trade Strategy

Today's USD/JPY call: Sell.

Yesterday’s rise has been completely wiped out, and every chart from the 4-hour down is now pointing lower.
If this flow continues, we might drop to the daily chart key level of 145.
For now, this is a spot to wait for selling the rally.

Scenario A
If price breaks above 146.2, the starting point of yesterday’s rise, I’ll see it as a renewed uptrend and look for buying the dip.
The zone from B to A is a buy in the short term, but it could go either way, so basically I’ll wait and see.
Depending on how the chart shapes up, either a sell or a buy is possible.
Target is around 146.7

Scenario B
A sell after price forms a range in the current price zone.
Target is around 145

Scenario C
A sell at support/resistance (S/R) after a break below.
The pink line just below at 145.3 will act as support, so I’m a little cautious.
Target is around 145

Review

It was Scenario C.

An entry in line with the scenario would have reached the target, but price was falling one-sidedly and barely forming any waves, so it’s not an entry point I felt very keen on.
With no waves forming, it’s also hard to set a target.

The target of 145 was a price that looked like it might be a bottom on the 4-hour chart (H4).
I took profit at the point where it looked like it was about to bounce from there. 42 pips