2026/01/30 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
For now I’m looking to buy, but price is near the 1-hour recent high and the 4-hour is in a downtrend, so caution is needed.
I don’t want to get caught up in a move where a big double top forms and price drops, leaving me buying at the top.
If I’m going to buy, I want to target the spot where a 1-hour-level pullback forms.
There are several places that could serve as pullback candidates, which makes it hard to pin one down, but the first candidate is probably the pink line around 153.5, near the letter B.
Review
It played out as Scenario A.
As I wrote this morning, this was a long from the red circle, the pullback after price broke above the big double top on the 1-hour level.
This is an easy entry point to spot.
The risk-reward is good too.
The rise before the entry had already taken price past the 154 target, so I aimed for the recent high, but since price kept turning up (making higher lows) on the 5-minute chart (M5), the take profit came at the green line one level higher. 65 pips
This line is the 4-hour rally high, so if price comes back down, I simply close out.
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.
