2026/01/28 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
The daily chart uptrend has broken down and the bias is to sell, but price is at a level that looks likely to become a pullback on the weekly chart.
For day trading, this is a spot to go long and catch the 4-hour-level retracement.
The bigger picture is still a sell, so rather than getting greedy and holding, it seems best to take profit quickly once the target is reached.
Review
It played out as Scenario B.
Price ranged the whole time with little movement, and in the short term it was a situation where selling would have been fine, but it bounced without breaking the C line and formed higher lows, so I went long at the red circle.
After that, it broke through the target, made an S/R flip bounce and rose further, but since it was getting late at night and price was barely making new highs, I took profit. 89 pips
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.
