USD/JPY Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- USD/JPY at $150.013, below pivot point $150.789, signaling bearish pressures.

- RSI at 29 suggests oversold conditions; potential rebound if support holds.

- Buy above $149.050; target $150.789, stop loss at $148.069 to manage risk.

The USD/JPY pair is trading at $150.013, down 0.12%, reflecting a period of consolidation as traders assess recent economic data and central bank policies. The currency pair remains under pressure, hovering below the critical pivot point of $150.789 on the 4-hour chart.

This level is crucial for traders seeking to determine the next directional move. The USD/JPY is exhibiting bearish tendencies, influenced by mixed signals from the Federal Reserve's recent statements and ongoing economic uncertainty.

Immediate resistance is positioned at $150.937, with further resistance levels at $152.030 and $153.152. These thresholds are essential for bullish traders looking to capitalize on potential upward momentum, especially if U.S. economic data continues to show resilience.

However, the Relative Strength Index (RSI) at 29 indicates that the pair is in oversold territory, suggesting the potential for a corrective rebound.

On the downside, immediate support is found at $148.047, with additional supports at $147.346 and $146.476. These levels are pivotal for sustaining the recent range-bound trading and could invite buying interest if the pair dips further.

The 50-day Exponential Moving Average (EMA) at $153.878 is significantly above the current price, highlighting the prevailing bearish sentiment unless a strong recovery materializes.

Traders might consider a buy position above $149.050, targeting a take profit at $150.789, while setting a stop loss at $148.069 to manage downside risks.

USD/JPY - Trade Ideas

Entry Price – Buy Above 149.050

Take Profit – 150.789

Stop Loss – 148.069

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$1739/ -$981

Profit & Loss Per Mini Lot = +$173/ -$98