2026/07/08 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
My bias is to buy, but price has reached a key level, so I can’t buy right away.
I’d like to wait for a pullback before buying.
Be careful if you’re selling: there’s a support zone down to around 161.5.
I don’t think we’ll see a real drop until that breaks, so I think it’s best to keep assuming the uptrend continues.
Review
Price went up.
○1 is a buy from higher lows at a 15-minute S/R level.
If price drops from here, the stop-loss level would be below Line C, so it’s a bit on the risky side.
If you trade aggressively, buying from here is also an option.
The clearer one is ○2.
It’s a buy from the pullback after the break of Line A.
Price fell just short of the target, so I took profit as it started to come down. 20 pips
The reasons are that, given the market context, it wasn’t a situation to hold, and it was a good profit-taking spot relative to the size of the recent rise.
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.
