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

Daily Price Outlook

The USD/JPY pair has sustained its upward trajectory, approaching our newly-set target of 150.00. This momentum is consistently underpinned by the EMA50, amplifying the prospects of an enduring bullish stance in both intraday and short-term contexts. It's worth noting that breaching the aforementioned level could further propel the bullish momentum, targeting successive key levels at 151.00 and subsequently 151.85.

Entry Price – Buy Limit 149.128

Take Profit – 150.179

Stop Loss – 148.692

Risk to Reward – 1: 2.4

Profit & Loss Per Standard Lot = +$1051/ -$436

Profit & Loss Per Micro Lot = +$105/ -$43

Our forecast remains bullish for the forthcoming sessions, contingent upon the pair not descending and sustaining below the 148.40 mark.

Today's projected trading boundaries are delineated between a support at 148.70 and a resistance at 150.20.

USD/JPY - Trade Idea 

Entry Price – Buy Limit 149.128

Take Profit – 150.179

Stop Loss – 148.692

Risk to Reward – 1: 2.4

Profit & Loss Per Standard Lot = +$1051/ -$436

Profit & Loss Per Micro Lot = +$105/ -$43