Daily Price Outlook

    The USD/JPY pair has successfully breached the 145.75 mark and maintained its stance beneath this level, bolstering the anticipated bearish inclination on an intraday scale. The trajectory suggests a potential movement towards our primary target set at 144.55.

    Current dynamics, underscored by the negative pressure exerted by the EMA50, fortify the likelihood of reaching the projected target. However, it's pivotal to underscore that for the bearish momentum to persist, the pair needs to remain anchored below the 146.55 benchmark.

    Today's trading spectrum is delineated between a support threshold at 144.60 and resistance positioned at 146.00, with the prevailing sentiment skewed towards the bearish side.

    USD/JPY Price Chart – Source: Tradingview
    USD/JPY Price Chart – Source: Tradingview

    USD/JPY - Trade Idea

    Entry Price – Sell Below 145.706

    Take Profit – 144.968

    Stop Loss – 146.273

    Risk to Reward – 1: 1.3

    Profit & Loss Per Standard Lot = +$738/ -$567

    Profit & Loss Per Micro Lot = +$73/ -$56



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