[Today's USD/JPY] Recovered to 157 yen but won’t buy? The reason I doubt a sharp rebound

Conclusion: I won’t buy immediately even if USD/JPY returns to the 157 range.

On Monday, October 26, USD/JPY rose briefly to 157.22, but then fell to the 156 range. Around noon it was about 156.73.

Last week it dropped rapidly from the 158 range to the 156 range.

What’s concerning here is the expectation that “perhaps it will rebound soon.”

But, just a little rise does not necessarily mean the decline has ended.

? Three geniuses discuss!

? A: Ultra bullish

“If it returns to the 157 range, it’s a chance for a rebound! There’s a possibility it could aim for 158!”

? B: Ultra cautious

“Still not safe. If last week’s drop continues, it could break below 156!”

? C: Another perspective

“In the first place, is there a need to buy today? The opportunity isn’t only today, right?”

I agree with C.

? What I learned from past mistakes

In the past, I bought when it rose a bit and sold when it fell.

I repeated that trading and experienced many “in-out whiplashes.”

So now, basically only long positions.

I confirm the up move on the 15-minute and 5-minute charts, and wait for a pullback on the 1-minute chart.

If the conditions aren’t met, I won’t enter for days.

⚠️ This week, pay extra attention!

This week features the US FOMC and the Bank of Japan monetary policy meeting.

Announcements about interest rates could cause big moves in USD/JPY.

Personally, I once experienced a sizable loss when a stop loss I had set for key economic indicators did not function as planned during gold trading.

That’s why I want to avoid forced entries immediately after announcements.

✅ Today’s conclusion

Not because it surpassed 157, but because I will buy after confirming that the uptrend has returned.

Better to miss a profit than to rush and lose capital.

What I aim for is not to win every day.

Surviving in the market no matter what comes.

Today as well, I will wait for my own chance without rushing.