2026/03/04 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
Price is still near the highs on the daily chart.
The range low is unchanged from yesterday, so the plan is to decide on an entry based on risk-reward once price starts making higher lows.
If it fails to make a new high, it’s starting to look like it will dip for a while, so it seems better to avoid continuing to hold longs.
Review
It played out as Scenario C.
In the first half I was waiting with a bullish bias, but price dropped without ever forming a setup I wanted to buy.
For a short-term trade, selling from circle ① would have worked fine.
For a trade following the scenario, the short is at circle ②, the retracement after price broke below Line C.
Take profit where the decline stalls near the recent low. 30 pips
Alternatively, if you judge that further downside is likely, move the stop-loss level to breakeven and hold.
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.
