2026/07/16 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

For now, the red B line at 162 is holding, so I’m treating it as the range low.
As long as the range doesn’t break, I have a bullish bias, and if price starts turning up (making higher lows) from around the B line, I’ll buy.

That said, the daily chart and the 4-hour chart have been turning down (making lower highs) all along, so I sense the upward momentum is fading.
Maybe we’re about to enter a daily-chart-level correction.

Review

It played out as Scenario B.

The long was from ○1, where price turned up (making higher lows) after finding support at Line B.
I took profit when price turned down (making lower highs) after breaking above the target recent high. 36 pips

This rally made further upside more likely, so holding is also fine.
If your basic rule as a day trader is to close out within the day, this area is also a good take-profit spot in terms of timing.