Daily Price Outlook

    The USD/JPY pair has successfully breached the 147.86 mark and established a daily close above it, enhancing the prospects for sustained bullish momentum in forthcoming sessions. We anticipate a continued upward trajectory, targeting the 149.00 level as our subsequent milestone.

    The bullish outlook is further corroborated by the EMA50, which underpins the price, coupled with the favorable convergence signal currently exhibited by the stochastic indicator. It is imperative to maintain a position above the 147.50 level to realize the projected targets.

    For today's trading dynamics, we forecast a range defined by a support at 147.60 and a resistance at 149.10, with the prevailing sentiment tilting bullish.

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

    USD/JPY - Trade Idea 

    Entry Price – Buy Limit 148

    Take Profit – 149.040

    Stop Loss – 147.350

    Risk to Reward – 1: 1.6

    Profit & Loss Per Standard Lot = +$1040/ -$650

    Profit & Loss Per Micro Lot = +$104/ -$65



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