Daily Price Outlook

- USD/JPY shows bullish trend, trading at 143.226.

- Key resistance and support levels identified, with bullish sentiment suggested by RSI and MACD.

- Market participants should watch for resistance levels to gauge potential trend continuation or reversal.

The USD/JPY pair exhibits a bullish trend on Thursday, January 4, as it trades at 143.226, marking a 0.25% increase. The currency pair faces significant technical levels, with the pivot point at 141.43. Immediate resistance is observed at 142.52, followed by higher levels at 143.97 and 145.16.

In contrast, support lies at 139.94, 138.74, and 137.35. The Relative Strength Index (RSI) at 67 suggests bullish sentiment, nearing overbought conditions. The MACD at 0.2380 signals upward momentum, indicating potential bullish trends.

The pair's position above the 50-Day EMA of 142.97 further supports the current bullish outlook. However, traders should monitor key resistance levels for signs of a reversal or continued bullish trend.

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

USD/JPY - Trade Ideas

Entry Price – Buy Limit 143.115

Take Profit – 144.832

Stop Loss – 141.746

Risk to Reward – 1: 1.25

Profit & Loss Per Standard Lot = +$1717/ -$1369

Profit & Loss Per Mini Lot = +$171/ -$136



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