2026/10/05 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

It was drifting a little lower in the morning, but price has broken out of the range and moved higher.
From here, I’d like to wait for a pullback and ride the upward move.

It’s not clear yet where the pullback will form, but the strongest candidates are the green line or pink line near the letter B, or, after a bit more upside, support/resistance (S/R) at Line A.
If the pullback comes after some further gains, it will probably be once we’re into the European session.

Review

It was Scenario B.

In the end it bounced off the green line, but since it was a sharp rebound after a run of turning down (making lower highs), getting in feels a bit like chasing.
If you enter without countertrend trading, it’s a long from ○1.
After that, take profit where it forms a double top at the next line up. 40 pips