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

Daily Price Outlook

- Pivot Pressure: Key pivot at ¥155.155; a breach may shift momentum.

- Support Zones: Immediate support at ¥153.907, with next support at ¥153.415.

- RSI Neutral: RSI at 49 reflects neutral sentiment, though a decline may trigger a bearish continuation.

USD/JPY is trading slightly lower at ¥154.053, displaying a bearish bias as it approaches a critical pivot point at ¥155.155. This level will serve as a key decision point for traders, with a potential reversal or further decline hinging on whether the pair can hold or breach this mark.

The immediate resistance stands at ¥155.557, followed by the next barriers at ¥155.984. A break above these levels would indicate a reversal back to bullish sentiment. However, with current momentum skewed to the downside, resistance appears unlikely to be tested unless the pair finds a solid footing above the pivot.

On the downside, USD/JPY has immediate support at ¥153.907, a level closely aligned with the 50-day Exponential Moving Average (EMA) of ¥153.307, which reinforces the pair’s lower boundary. Should this support level fail to hold, traders may see further declines towards ¥153.415 and then ¥153.008.

The Relative Strength Index (RSI) sits at 49, indicating neutral momentum. However, a reading near 50 suggests a potential shift is forthcoming; a dip below this could strengthen bearish sentiment.

In conclusion, USD/JPY remains vulnerable to further losses below the pivot level of ¥155.155. Traders may consider short positions below ¥154.245, aiming for a target near ¥153.425 with a stop loss at ¥154.935.

USD/JPY - Trade Ideas

Entry Price – Sell Below 154.245

Take Profit – 153.425

Stop Loss – 154.935

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$820/ -$705

Profit & Loss Per Mini Lot = +$82/ -$70