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

Daily Price Outlook

- Bullish Channel: USD/JPY trades inside a rising channel; higher lows support near-term uptrend.

- RSI Holding Above 50: RSI at 59.27 indicates bullish momentum is still intact.

- Breakout Watch: A sustained move above 142.58 confirms continuation toward 144.29.

USD/JPY continues to hold within a rising price channel after bouncing off the 141.57 support. Price is currently testing a confluence zone marked by the 50-period SMA (142.59) and previous resistance-turned-support at 142.58. A breakout above this level could open the door toward 144.29 in the near term.

The pair has also breached the descending trendline from the March high, indicating a shift in short-term momentum. RSI at 59.27 supports the bullish outlook, as it remains above the 50 threshold, suggesting buyers are still in control. However, traders should monitor for potential rejection around the channel top.

Should price drop below 141.57, the bullish structure would weaken, exposing 140.19 as the next support level.

USD/JPY - Trade Ideas

Entry Price – Buy Above 142.585

Take Profit – 144.293

Stop Loss – 141.564

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1708/ -$1021

Profit & Loss Per Mini Lot = +$170/ -$102