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

By LHFX Technical Analysis

Sep 7, 20231 min

Daily Price Outlook

The USD/JPY pair encountered a brief downtrend, touching the 147.00 barrier, before regaining momentum in an attempt to continue its anticipated bullish trajectory in both the intraday and short-term scopes.

The positive forecast remains grounded, bolstered by the EMA50 which underpins the price. It's essential to note that a breach of the 146.55 level might instigate a temporary bearish correction before the price ascends once more.

For today, the projected trading spectrum is demarcated between the support at 147.00 and the resistance at 148.40

USD/JPY Price Chart – Source: Tradingview

USD/JPY - Trade Idea

Entry Price – Buy Above 147.030

Take Profit – 149.144

Stop Loss – 145.713

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$211/ -$131

Profit & Loss Per Micro Lot = +$21/ -$13

Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

USD/JPY

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