2026/10/02 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

The market conditions are a bit tricky right now.
With NFP (nonfarm payrolls) coming up, it feels like there’s no need to force a trade.

Normally this is a spot where you’d think about trading within the range marked by the blue markers, but I’ve written the scenario assuming trades on a short-term bias.
In the near term, the range is from A to B, so the idea is to buy around B and take profit if it rises.
If it breaks below B, I’ll go short and aim for the lower blue marker.

Review

It played out as Scenario C.

After breaking through Line B, price pulled back up to the rally high on the 5-minute chart (M5), and I went short on the bearish candle that followed.
I would have liked to hold until the target, but I took profit just before the NFP (nonfarm payrolls) release. 30 pips