USDJPY Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- USD/JPY trades above the pivot at 156.932, signaling bullish momentum.

- RSI at 65 suggests strong upward movement but warns of overbought conditions.

- The 50-day EMA at 156.769 supports further upside potential.

The USD/JPY is trading at 157.361, up 0.04%, reflecting a slight upward momentum. The pair remains above the pivot point at 156.932, signaling bullish potential if it maintains this level.

Immediate resistance lies at 157.923, with higher targets at 158.742 and 159.672 if the bullish trend continues. On the downside, immediate support is located at 155.965, with subsequent levels at 155.004 and 154.152, which could be tested if the pair reverses lower.

The Relative Strength Index (RSI) stands at 65, indicating strong bullish momentum but nearing overbought territory.

The 50-day Exponential Moving Average (EMA) at 156.769 supports the upward trend, serving as a key dynamic support level. Traders should watch for a decisive move above the immediate resistance at 157.923 to confirm further gains.

The pair’s price action suggests a positive bias, but caution is warranted as the RSI nears overbought levels. Holding above the pivot at 156.932 reinforces bullish momentum, with the potential to challenge higher resistance zones.

USD/JPY - Trade Ideas

Entry Price – Buy Above 156.920

Take Profit – 157.940

Stop Loss – 156.309

Risk to Reward – 1: 2.4

Profit & Loss Per Standard Lot = +$1020/ -$611

Profit & Loss Per Mini Lot = +$102/ -$61