2026/10/07 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
On the 1-hour chart, price is starting to break out to the upside, but the higher timeframes are still in a range.
The daily chart is approaching near the highs, but since the weekly chart has made a bearish shift, we need to watch out for the upside getting heavy.
For near-term day trading, the ideal scenario is for price to form a pullback somewhere in the range from A to B and then move higher.
Even if it breaks straight up from here, it might be better to wait for another pullback rather than jumping in.
Review
No trade.
After a big drop, price made a full retracement and the situation became unclear, so I passed on it.
This article reflects the author's personal view of the market. It does not recommend any specific trade; all investment decisions are your own responsibility.
