2026/10/01 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

My bias is to buy, but for now it’s wait and see.
It’s hard to get involved until we get a pullback first.

The pullback levels aren’t very clear either.
I’m watching for a reversal somewhere between the blue line at B and the green line at C.

Given the time of day, I think there’s also a chance it doesn’t drop and closes the day with a long bullish candle.
In that case, it could rise after only a shallow pullback.

If it does form a pullback, going for a short-term short like the blue arrow is also an option.

Review

It was Scenario B.

The early selling momentum briefly broke below the C line, so it was wait and see at first. Then I went long from ○1, where the downside stalling and higher lows became clear on the 5-minute chart (M5).
After that, I quickly grabbed the one candle that turned things upward and took profit. 40pips