2026/03/11 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
I’m watching the price action around 158. I’m looking to buy, but the 4-hour chart is in a range, so I think there’s a chance it makes one more deeper pullback.
If it drops to around 158 and then starts turning up, that looks like it would be a perfect place to buy.
I might switch to a bearish bias in the short term, but basically it looks like a day for looking to buy.
Review
It was Scenario B.
Long from circle ①, where price pulled back to the C line and reversed higher.
Price overshoots slightly below the C line, so you might hesitate, but this is a spot where the trend has fully turned up, it’s the cleanest 1-hour role reversal, and it’s a shot at Elliott wave 3. Considering all that, buying is the only option.
On the 5-minute chart you can see the move from downside stalling into a rise, so commit and enter.
You might feel like taking profit around 158.5, but given the flow, there’s room for it to go higher, so I hold.
Price didn’t drop on the data release, so I set a limit slightly below the daily chart key level and that’s it. 80 pips
The scenario’s target was the next blue line down, so taking it only that far would have been about 65 pips.
If you couldn’t get in at circle ①, going long from circle ② is fine too, but in that case you’d probably want to close out before the CPI release.
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.
