2026/05/11 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
On the daily chart and 4-hour chart, we need to stay wary of a decline, but for day trading the bias is to buy.
I’d like to wait for a pullback and look to buy, and if price drops to around C, it becomes an easier buy.
Depending on how things develop from here, the blue line near the letter B is also a pullback candidate.
As a pullback after price rises a bit further from here, B might turn out to be the more promising one.
Either way, I’ll watch the price action a little longer before making a decision.
Review
It was Scenario B.
As expected, the blue line acted as support.
The 15-minute chart is in a range, so it’s best to leave it alone until price breaks below the blue line.
That was the better approach for your peace of mind in this market.
There were two places to enter, both using the same logic.
Buy on signs of downside stalling on the 5-minute chart (M5).
There’s no ideal spot to take profit.
If you’re closing out within the day, I think around dawn, just before the New York close, when bearish candles start appearing, is fine. 19 pips
The flow is still upward, so holding is an option, but the 4-hour chart (H4) doesn’t look good, so it’s a tough call whether to 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.
