2026/08/24 USD/JPY Trade Strategy

Today's USD/JPY call: Sell.

Based on the higher timeframe environment, my bias is to sell, but it’s a tricky situation.
The 4-hour chart (H4) is making higher lows and is starting to look like it could form a double bottom, so if price breaks out to the upside from here, it’ll be a rise for now.
As for selling, a certain number of participants see the current range from Line A to Line C as a buy on the 1-hour chart.
As a result, the current chart is moving in consolidation.
Given that situation, it’s hard to sell right away.
I’ll consider it once price either gets capped above or breaks below.

Review

No trade.

I was watching the area around the red circle for Scenario A, but price broke below it and turned into a short-term downtrend, so I chose to wait and see.

After that, the area around the blue circle was a spot where buying would have been fine, but it came late at night, so no trade.