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

Daily Price Outlook

- USD/JPY is approaching a sell entry level at 152.300.

- RSI at 56 indicates neutral momentum, but slight downside bias.

- Immediate support lies at 151.908, with stronger support at 151.601.

USD/JPY is currently trading at 152.151, down 0.39% during the session, signaling potential bearish momentum. The pair is approaching its pivot point at 152.575, indicating that traders are eyeing key support and resistance levels closely.

Immediate resistance lies at 153.180, with further upside potential at 153.698 if USD/JPY gains strength. However, the current downward pressure suggests that a retest of key support levels is more likely. Immediate support is seen at 151.908, with stronger support at 151.601 and a deeper level at 151.171.

The technical indicators present a mixed picture. The Relative Strength Index (RSI) stands at 56, suggesting that the pair is in a neutral range, although slightly favoring sellers. Additionally, the 50-day Exponential Moving Average (EMA) is positioned at 150.911, providing a lower boundary that could act as strong support should the pair continue to fall.

With USD/JPY trading near the 152.300 level, a sell entry could be considered, aiming for a take-profit level at 151.600. Traders should set a stop-loss at 152.950 to manage risks effectively if the pair reverses direction.

USD/JPY faces immediate bearish pressure, with a key sell entry below 152.300. Traders should watch for potential downside toward 151.600, while resistance at 153.180 could limit any rebound.

USD/JPY - Trade Ideas

Entry Price – Sell Below 152.300

Take Profit – 151.600

Stop Loss – 152.950

Risk to Reward – 1: 1

Profit & Loss Per Standard Lot = +$700/ -$650

Profit & Loss Per Mini Lot = +$70/ -$65