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

By LHFX Technical Analysis

Sep 19, 20231 min

Daily Price Outlook

The USD/JPY pair demonstrates consistent movement around the 147.86 mark, encountering challenges in surpassing it. Notably, the stochastic oscillator is now exhibiting a positive convergence, potentially propelling the pair to breach the aforementioned level and aim for our subsequent target at 149.00.

The prevailing bullish channel underpins the anticipated upward trajectory, contingent upon the price's ability to remain stable above the 147.30 threshold. For today, we project a trading range between the support level of 147.00 and a resistance at 148.70.

USD/JPY Price Chart – Source: Tradingview

USD/JPY - Trade Idea

Entry Price – Buy Stop 148.000

Take Profit – 149.040

Stop Loss – 147.286

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$1040/ -$714

Profit & Loss Per Micro Lot = +$104/ -$71

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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