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

Daily Price Outlook

- USD/JPY is trading at $145.99, down 0.44%.

- RSI indicates a neutral to bearish sentiment at 45.

- Entry: Sell Limit at $146.932, Take Profit at $144.024, Stop Loss at $148.498.

The USD/JPY pair is currently trading at $145.99, marking a 0.44% decline. The 4-hour chart indicates a pivotal point at $146.93.

Immediate resistance levels are identified at $148.54, $150.10, and $152.34, which could act as barriers to any upward movement.

On the downside, immediate support is found at $144.96, with further support at $143.69 and $141.79, offering potential stabilization points if the price continues to fall.

The Relative Strength Index (RSI) is at 45, suggesting that the pair is neither overbought nor oversold, but closer to the lower end of the spectrum.

The 50-day Exponential Moving Average (EMA) stands at $148.89, indicating bearish momentum as the price is below this level.

A move above the pivot point of $146.93 could signal a reversal, while staying below this level may reinforce the bearish outlook.

In light of the current technical indicators and key price levels, the recommended strategy is to enter a sell limit order at $146.932, with a take profit target at $144.024 and a stop loss at $148.498.

USD/JPY - Trade Ideas

Entry Price – Sell Limit 146.932

Take Profit – 144.024

Stop Loss – 148.498

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$290/ -$156

Profit & Loss Per Mini Lot = +$29/ -$15