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

Daily Price Outlook

- Immediate resistance at 149.97 could lead to gains if broken, with next targets at 150.59 and 151.17.

- The 50-day EMA at 149.37 supports a bullish bias, signaling strength above key support levels.

- RSI at 55 indicates a neutral-to-bullish market, leaving room for further upward movement.

The USD/JPY pair is trading at 149.598, down 0.10% for the day, hovering near the critical pivot point at 150.24. Immediate resistance is seen at 149.97, and a break above this level could open the door for further gains toward 150.59 and 151.17.

On the downside, key support levels are found at 148.47, followed by 147.67 and 147.01.

The 50-day Exponential Moving Average (EMA) at 149.37 acts as crucial support, helping maintain a bullish outlook. The RSI is at 55, signaling neutral-to-slightly bullish conditions. Traders are closely watching the 150.24 pivot point for signs of a breakout.

If the pair clears this level, bullish momentum could accelerate, while a failure may push USD/JPY toward the support at 148.47.

For a short-term strategy, traders could consider entering a buy position above 149.052, targeting a take-profit level of 150.24. A stop-loss at 148.37 is recommended to limit downside risks.

USD/JPY - Trade Ideas

Entry Price – Buy Above 149.052

Take Profit – 150.239

Stop Loss – 148.373

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$1187/ -$679

Profit & Loss Per Mini Lot = +$118/ -$67