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

Daily Price Outlook

- USD/JPY is bullish above 142.44, with resistance targets at 143.17 and 143.97.

- 50-day EMA at 141.22 offers strong support, keeping the trend positive in the short term.

- RSI at 54 indicates neutral momentum with the potential for further gains if resistance is broken.

USD/JPY is trading at 142.32, up 0.05%, indicating a mild upward trend as the pair holds above key support levels. The immediate resistance is noted at 142.44, with further resistance at 143.17 and 143.97. On the downside, immediate support is at 140.46, followed by 139.70 and 138.95, marking significant levels where the price could potentially reverse.

The 50-day Exponential Moving Average (EMA) at 141.22 acts as critical support, providing stability for near-term bullish sentiment. The Relative Strength Index (RSI) is currently at 54, reflecting neutral-to-bullish momentum, signaling that the market still has room for further upward movement.

A break above 142.44 could confirm a bullish bias, paving the way toward the next resistance level at 143.17. However, if USD/JPY falls below 140.46, the short-term trend could turn bearish, testing the lower support at 139.70.

The broader outlook for USD/JPY remains influenced by the divergent monetary policies between the U.S. Federal Reserve and the Bank of Japan. While the Fed signals caution after its recent rate adjustments, the Bank of Japan maintains its dovish stance, providing continued support for the dollar against the yen.

USD/JPY - Trade Ideas

Entry Price – Buy Above 141.895

Take Profit – 143.184

Stop Loss – 141.270

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$1289/ -$625

Profit & Loss Per Mini Lot = +$12/ -$62