2026/10/16 USD/JPY Trade Strategy
Today's USD/JPY call: Buy.
For now, this is a spot to consider buying, but the market context is tricky.
The higher timeframe is sitting at an awkward level, so be careful not to get whipsawed.
I’ve drawn the current chart with a bullish bias too, but near Line A it’s a situation where selling would be fine as well.
Review
It was a range.
Early on I was looking to buy, but price broke below the B line and made a bearish shift.
You could short around the red circle on the retracement after that, but price turned back up without making a new low, so that would end in a breakeven exit.
Looking at the price action up to this point, it felt like the market probably wasn’t going to move much today… so I called it a day.
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.
