2026/01/08 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

Price has just broken above the neckline of the double bottom on the 4-hour chart.
I’m waiting for a pullback to buy.

It’s rising, but both the daily chart and the 4-hour chart are in a range, so there isn’t much momentum.
Even if it breaks below line B, I’ll still look to buy, but if it breaks the recent low and approaches C, I’ll wait and see for a while.
As long as C holds, I’ll keep looking for reasons to buy and continue aiming for longs.

Review

No trade

There weren’t many places where I could get involved.
Price dropped to Line C, but it never formed a setup I could sell into.

I’d like to buy from the red circle, but with US economic data coming out right after, I’m not too keen on it.
As it turned out, a buy there would have caught the rally, but if it had gone the other way, risk management would have been difficult.