2026/07/02 USD/JPY Trade Strategy
Today's USD/JPY call: Sell.
Price has broken above a major key level and is rising, but it’s starting to look like it may form a pullback for now.
In the near term, I have a bearish bias with Line A as the range high.
There was a good selling point around 9:30 am JST (00:30 UTC), but from here I’ll consider an entry either if price comes back up near Line A again, or after it breaks below Line C.
Review
It played out as Scenario C.
As of the morning the bias was already short, but the best entry was a short from around the blue circle.
Anyone who sold from there had an easy day.
After the scenario was published, the bias was short only, so all that was left was deciding where to enter.
The easiest trade was a short at circle 1, where price gradually turned down (making lower highs), broke below Line C, and then made an S/R flip bounce at the 5-minute chart (M5) level.
After that it fell in a straight line, so I took profit on seeing higher lows at the 15-minute level. 110pips
I thought it would form a pullback at some point, but I didn’t expect it to drop this far.
The 4-hour chart (H4) can now also be considered a bearish shift.
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.
