2026/04/21 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
On the daily chart, the room to run keeps narrowing, so expectancy is low right now.
It’s a tough call whether to buy or sell, but if anything, I lean toward buying.
Eventually price will break out of the consolidation in one direction or the other, and a short from around Line A or a long from around Line C could be the first move of that breakout, so I want to make sure I catch it.
Review
It played out as Scenario B.
Price didn’t drop all the way to Line C, but you could go long at the red circle, which was the pullback after the 5-minute chart (M5) made a bullish shift.
After that it rose and lost momentum near the recent high (around the 1-hour rally high), and I think taking profit there would be fine too.
Structurally, price is in the process of rising from the lower boundary of the triangle consolidation on the daily chart, and it has been making higher lows on the 4-hour and 1-hour levels, so there are signs it may go higher. That makes it worth moving the stop-loss level to breakeven and holding.
If you held, take profit when price turned down (making lower highs) at the line one above the target. 50 pips
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.
