2026/03/23 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
On the daily chart, price is rising with the horizontal level acting as support/resistance (S/R), but looking at the 4-hour chart alone, price broke below a low once, so it can be seen as a bearish shift.
Keeping that situation in mind, the 1-hour chart is in an uptrend, so the strategy is to wait for a pullback and buy.
I’d like to wait, treating the area around line B as a pullback candidate.
If price breaks below C, I’ll consider selling.
Review
No trade
No pullback formed around Line B, so there was no timing where I particularly wanted to get in.
Under Scenario A, you could go long from circle ①.
The risk-reward isn’t great, so whether to take it is up to you.
If you treat the pink line as your target and take profit quickly, you can grab about 15 pips.
After that, price dropped sharply and the buying collapsed.
Technically, you could short from circle ② on the retracement after the break below Line C.
That said, this wasn’t really a spot where you could sell with confidence either.
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.
