2026/10/08 USD/JPY Trade Strategy

Today's USD/JPY call: Buy.

Price has been losing momentum and falling from the high it set yesterday, but right now it’s sitting in a spot where it’s hard to say either way.
A fair number of traders see this as the range low, so once the selling runs out of steam, we could see buyers stepping in.
For now the structure looks like it wants to go lower, so I’d like to sell if price breaks below this price zone.

The daily chart is becoming directionless, so the room to run might start to narrow.

Review

It was Scenario B.

I went long near Line C on a short-term double bottom and turning up (making higher lows).
It was a setup that looked like it would bounce for a while.

After that, it didn’t reach the range high, so I took profit around where the move stalled. 45 pips