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

Daily Price Outlook

- Immediate Resistance: 155.86, with further upside toward 157.59.

- RSI Overbought: At 74, signaling potential for consolidation.

- 50 EMA: Price trades above 153.83, reinforcing bullish momentum.

The USD/JPY pair is trading at 155.34, posting a 0.34% gain for the day. On the 4-hour chart, the pair continues its upward trajectory, supported by robust bullish momentum. The pivot point is at 154.54, with immediate resistance at 155.86.

If this level is breached, the next upside targets are 156.72 and 157.59. On the downside, immediate support lies at 153.49, followed by deeper levels at 152.24 and 151.02.

Technical indicators underscore strong bullish sentiment. The RSI at 74 suggests overbought conditions, indicating that the pair could face some short-term consolidation or a minor pullback. However, the price remains above the 50 EMA at 153.83, signaling that buyers are firmly in control in the medium term.

If USD/JPY holds above the pivot point at 154.54, the bulls could aim for a test of 155.86. A sustained break above this level may open the path toward 157.59. On the other hand, a move below 153.49 would likely see the pair testing support at 152.24, although the broader trend remains bullish.

Traders may consider a buy limit at 154.54, targeting 156.01, with a stop-loss at 153.93 to manage downside risks.

USD/JPY - Trade Ideas

Entry Price – Buy Limit 154.539

Take Profit – 156.014

Stop Loss – 153.928

Risk to Reward – 1: 1.2

Profit & Loss Per Standard Lot = +$1475/ -$611

Profit & Loss Per Mini Lot = +$147/ -$61