2026/05/29 USD/JPY Trade Strategy

Today's USD/JPY call: Sell.

For now I’m looking to sell within the range, but it’s a bit of a tricky situation.
If anything, it’s a situation where I’d rather look to buy than sell.

The price zone marked in blue is around the top of the range that capped price on the 4-hour chart (H4) all last week.
It’s a price zone where an S/R flip bounce can happen after the range breakout, so it’s a place where buyers come in.
The daily chart trend is also up, so waiting until price breaks above Line A before considering a buy might give a better chance of making a profit.

Review

It was a range.

Short from circle ①, where price was turning down (making lower highs) right at Line A.
Price finally started moving once the New York session began, but it bounced cleanly off the range low, so I took profit. 14 pips

Between the currency intervention and rallies that didn’t form proper waves, it was a month where I couldn’t make anything at all on USD/JPY.