Need a little help with templates

I have mqtt strings coming to me as follows;
tele/Basement_Pump3/SENSOR = {"Time":"2021-03-10T23:26:17","Switch1":"OFF"}
and
tele/Basement_Pump3/SENSOR = {"Time":"2021-03-10T23:26:17","Switch1":"ON"}

I am trying to config it to a binary_sensor in yaml as follows;

  - platform: mqtt
    name: "Pump Switch"
    state_topic: "tele/Basement_Pump3/SENSOR"
    value_template: "{{ Switch1 }}"

It never registers a “ON”, can someone tell me what I am doing wrong?

Thankx for any help that can be provided. J

value_template: "{{ value_json.Switch1 }}"

Thank you so much!!! I have read until my eyes bleed and could not quite get the hang of the template thing. It works perfect!

J