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

Daily Price Outlook

- Neutral Bias: Trading around the 50-day EMA at 144.505, with RSI at 50 indicating balanced momentum.

- Resistance Levels: Immediate resistance at 145.303, with potential targets at 146.118 and 147.088.

- Support Levels: Key support at 143.686, with deeper levels at 142.903 and 142.119.

The USD/JPY pair is currently trading at 144.518, down by 0.06% as it flirts with the key pivot point set at 144.699.

This level will be crucial in determining the pair’s next move. The pair is trading near its 50-day Exponential Moving Average (EMA) at 144.505, which is acting as a critical support level.

The Relative Strength Index (RSI) is at a neutral 50, indicating a balanced market without a clear momentum bias at this point.

If the pair fails to hold above the 144.699 pivot point, immediate support is expected at 143.686, followed by deeper levels at 142.903 and 142.119.

A sustained drop below these support levels could intensify the bearish sentiment, potentially leading to further declines.

Traders may consider entering a short position below 144.757, targeting 143.717 as the take-profit level while placing a stop-loss at 145.276 to manage risk.

On the upside, resistance starts at 145.303, a level that needs to be breached for any bullish momentum to gain traction.

If the pair manages to break this resistance, the next targets would be 146.118 and 147.088.

USD/JPY - Trade Ideas

Entry Price – Sell Below 144.757

Take Profit – 143.717

Stop Loss – 145.276

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1040/ -$519

Profit & Loss Per Mini Lot = +$104/ -$51