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

Daily Price Outlook

- Pivot Resistance: USD/JPY faces strong resistance at the 153.26 pivot, reinforced by the 50 EMA.

- Support Zones: Key support levels include 152.74, with additional support at 152.50 and 152.28.

- RSI Indicator: RSI at 40 suggests cautious sentiment, with room for further downside if bearish momentum holds.

USD/JPY is trading at 152.90, down 0.34% today, indicating a moderate bearish trend as the pair nears critical support levels. The pivot point is situated at 153.26, aligning closely with the 50-day Exponential Moving Average (EMA), which serves as a key resistance.

This confluence suggests that USD/JPY might encounter difficulty moving higher unless market sentiment strongly favors the dollar.

Immediate resistance is noted at 153.05, with subsequent levels at 153.58 and 153.87, potentially capping any recovery efforts. On the downside, immediate support is found at 152.74, followed by deeper levels at 152.50 and 152.28.

A break below these supports could escalate selling pressure, possibly leading to further declines.

The Relative Strength Index (RSI) stands at 40, reflecting subdued momentum. While not in oversold territory, this level implies that selling interest may persist if the pair fails to reclaim the pivot point.

Traders might consider short positions below 153.03, with a target at 152.52 and a stop at 153.42, capitalizing on the prevailing bearish outlook.

Overall, USD/JPY remains pressured below 153.26, supporting a bearish view unless a breakout above this level occurs.

USD/JPY - Trade Ideas

Entry Price – Sell Below 153.038

Take Profit – 152.521

Stop Loss – 153.422

Risk to Reward – 1: 1.35

Profit & Loss Per Standard Lot = +$517/ -$384

Profit & Loss Per Mini Lot = +$51/ -$38