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

Daily Price Outlook

- Pivot Point: $146.1270 is the key level to watch.

- Support Levels: $144.3320, $143.2110, $141.7870.

- Resistance Levels: $147.3240, $149.3650, $150.9000.

The USD/JPY pair is experiencing a modest uptick, trading at $145.486. The pair is hovering near a crucial pivot point at $146.1270, which will play a key role in determining the next direction.

If the price fails to sustain above this level, the downside risks could increase, with immediate support at $144.3320, followed by $143.2110 and $141.7870.

On the upside, if the pair manages to break above the pivot, it could face resistance at $147.3240, $149.3650, and ultimately $150.9000.

The RSI is currently at 41, indicating a neutral to slightly bearish sentiment. Additionally, the 50-day EMA at $146.9510 suggests that there’s room for further downside correction if the current momentum does not pick up.

Conclusion: Consider selling below $146.161, targeting $143.998 with a stop loss at $147.340.

USD/JPY - Trade Ideas

Entry Price – Sell Below 146.161

Take Profit – 143.998

Stop Loss – 147.340

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$216/ -$117

Profit & Loss Per Mini Lot = +$21/ -$11