Daily Price Outlook

    The USD/JPY pair has decisively surpassed the 146.90 threshold, signaling a resurgence of the primary bullish trajectory. This movement is in line with the bullish channel delineated on the chart, enhancing the probability of eclipsing the recent peak of 147.86 and steering towards the 149.00 region as the forthcoming key target.

    The 50-day Exponential Moving Average (EMA50) lends positive reinforcement to the pair, underscoring the anticipated upward trend in subsequent sessions. However, it's crucial to note that a breach below the 146.90 mark, followed by a drop past 146.35, could thwart the projected ascent and redirect the pair back to a corrective bearish path.

    For today, the trading spectrum is projected to oscillate between a support at 146.70 and resistance at 148.20.

    USD/JPY Price Chart – Source: Tradingview
    USD/JPY Price Chart – Source: Tradingview

    USD/JPY - Trade Idea 

    Entry Price – Buy Limit 146.677

    Take Profit – 147.955

    Stop Loss – 145.774

    Risk to Reward – 1: 1.4

    Profit & Loss Per Standard Lot = +$1278/ -$903

    Profit & Loss Per Micro Lot = +$127/ -$90



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