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

Daily Price Outlook

- USD/JPY broke above 144.03, confirming bullish momentum.

- RSI overbought, but trend and structure favor continued upside.

- Entry above 144.03 targets 145.74 with stop at 143.01.

USD/JPY has broken out aggressively from consolidation and is now trading at 144.38, having breached a critical resistance at 144.03. Price surged from the ascending channel’s lower boundary, confirming the bullish structure, and is now approaching the midline of the rising parallel channel.

A bullish engulfing candle formed at the breakout point, supported by strong volume and follow-through, suggests further upside potential.

The 50-period SMA at 142.976 has begun sloping upward and now aligns with dynamic support. Price is trading firmly above both the 50 SMA and the channel’s median line, signaling trend continuation.

The RSI is currently at 72.82—technically overbought—but historically, during strong uptrends, it tends to hover above 70 for extended periods. No immediate divergence is visible, which further supports the bullish outlook.

Immediate resistance stands at 145.13, with further upside potential toward 146.15 and 147.15 if momentum continues.

On the downside, 144.03 is the key breakout level to watch; any retest that holds could offer a buying opportunity. Further support sits at 143.01, which aligns with the ascending trendline and SMA support.

While RSI suggests some caution, the overall structure—breakout above resistance, channel continuation, and SMA alignment—favors bulls.

A daily close above 145.13 could confirm further gains toward 146.15, completing the next leg of the ascending channel.

USD/JPY - Trade Ideas

Entry Price – Buy Above 144.033

Take Profit – 145.741

Stop Loss – 143.012

Risk to Reward – 1: 1.6

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

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