2026/03/12 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
Price has broken above the 4-hour high, and every timeframe has a bullish bias.
I’d like to wait for a pullback and buy, but if the 15-minute chart (M15) drops from here, it starts to look like a double top or a head and shoulders.
The daily chart is still near the highs, so it seems wise to also consider the possibility of a correction for now.
Review
A drop followed by a rise
Early on, price broke the recent low, so I took a bearish bias for the time being and went short at circle ① off the rally high.
This didn’t extend and bounced off the line below, so I exited. 17pips
After that, price rose and broke through Line A.
Long from circle ②, where the lower timeframes were turning up (making higher lows) right at Line A.
This lost momentum just before the target blue line, but since it was during the late-night hours, if you had set a limit order just below the blue line, your take profit would have been hit.
If you were watching the chart, you would take profit when it started turning down (making lower highs). 18pips
In the end, it turned out to be a day without much movement.
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.
