2025/11/04 USD/JPY Trade Strategy

Today's USD/JPY call: Sell.

The market context is still bullish, but price has tried three times and failed to make a new high, so it might be about time to start selling.
In the short term, sellers are starting to gain the upper hand.

Scenario A

If price rises from here and breaks above the high, it’s a buy again.
Target is 155

Scenario B

If price retraces to around Line B and then starts losing momentum, I’ll sell.
Target is around 153.7–8

Scenario C

I haven’t drawn a horizontal line at Line C, but it acts as a short-term support/resistance (S/R) line.
I’m watching it as one guide for the retracement high area if price drops further from here.
Target is likewise around 153.7–8

Review

It was Scenario C.

Short from the red circle, where price moves down on a clean S/R flip bounce.
Price easily broke through the target, so take profit where it stops falling at the next line down. 55 pips

This green line is the end point of the recent move.