The Setup
This one was all about patience and levels.
USD/JPY had been selling off most of the day, but I spotted a key horizontal support level around 140.630. The pair had bounced off this zone earlier, and when price approached it again, I was watching closely.
The MACD started showing early bullish divergence, and the RSI was sitting in oversold territory – a perfect cocktail for a potential bounce.
Rather than guessing, I waited for confirmation:
- A bullish engulfing candle off support
- MACD curling up
- RSI lifting off the oversold zone
Once I had all three, I entered the long.
The Trade
After entering, price moved slowly at first – lots of chop and hesitation. But I stayed patient. The Bollinger Bands started to tighten, hinting at a potential breakout, and sure enough, price expanded upward with momentum.
Over the next 1 hour 55 minutes, USD/JPY steadily climbed around 28.2 pips – giving me a nice, controlled move up to the next resistance near 140.910.
Not the fastest trade ever, but it was clean, and it respected the setup.
The Lesson
This trade was a reminder: Good setups don’t need to move instantly.
By sticking to the plan, trusting support, waiting for confirmation, and letting the indicators guide me – I avoided getting shaken out and walked away with a clean win.
Patience brewed the profit here.
Trade Summary
| Metric | Result |
|---|---|
| Time in Trade | 1h 55m |
| % Gained | +0.20% |
| Pips Captured | 28.2 pips |
| Setup Type | Support bounce + MACD/RSI confirmation |
| Strategy | Intraday Support-Resistance |
Final Sip
Some days it’s about catching massive moves.
Other days, it’s about seeing the small setups clearly and letting them brew properly.
This USD/JPY trade might not have been explosive- but it was textbook.
More like this = more consistency.