📈 USDJPY Forecast Today: Bullish Breakout Signals More Upside!

USDJPY Forecast Today is showing strong bullish potential on the H1 chart, confirming a textbook reversal pattern. After a significant decline earlier this month, the pair has now formed an inverse head-and-shoulders pattern, signaling a likely trend reversal to the upside.

In today’s USDJPY forecast, we see the right shoulder taking shape, and the neckline resistance around the 147.90 level is currently being challenged. If the price consolidates above this neckline, a bullish continuation toward the 148.70 zone is highly probable — marking a completion of the measured move based on the height of the pattern.

🔍 USDJPY Technical Analysis Breakdown:

1. Inverse Head and Shoulders Formed:
   • Left Shoulder: Formed on July 31st, with a dip around the 147.20 zone.
   • Head: The deepest part occurred on August 2nd, around 146.20.
   • Right Shoulder: Built over the last couple of sessions with a higher low, confirming bullish accumulation.
2. 50-MA Support:
   • The price action rebounded cleanly off the 50-period Moving Average, offering dynamic support and further strengthening the bullish outlook.
3. RSI Momentum:
   • The RSI has broken above the midline (50-level), currently sitting around 54.40, which confirms renewed bullish momentum. However, slight divergence is also worth monitoring for short-term pullbacks before continuation.
4. Key Resistance Zone:
   • The area between 147.90 to 148.70 has acted as a strong resistance zone in the past and should be watched closely.
   • If this area is cleared with volume and price consolidation, the pair may even stretch toward 149.00+ in the coming sessions.

📌 #TradeIdea – USDJPY Bullish Setup

✅ We are interested in buying USDJPY ONLY on a confirmed consolidation above 147.90.

🎯 Target 1: 148.70
📉 Stop Loss (Optional): Below 147.40 (under neckline support)

⚠️ Important Note: Avoid early entries before the breakout is confirmed. Wait for a candle close above 147.90 followed by stable price action — this will reduce false breakout risks.

📅 Upcoming News to Watch for USDJPY forecast today:

Keep an eye on these fundamental catalysts that may affect the USDJPY forecast today and in the coming sessions:

• U.S. CPI Data Release – August 7: Inflation data is expected to bring volatility to the USD.
• BOJ Comments or Policy Shifts: Any sudden change in tone from the Bank of Japan can strongly impact the JPY side of the pair.
• U.S. Unemployment Claims – August 8: If job market data disappoints, USD may see a pullback.

📊 Overall, this is a bullish setup backed by a strong technical reversal pattern and a clean structure. If fundamentals align with the chart, we could see a smooth rally up to 148.70 and beyond.

💬 What’s your USDJPY forecast today? Are you bullish too, or do you see resistance holding? Drop your thoughts in the comments, and don’t forget to 👍 if you like the setup!

For more Trading setups & Signals, stay tuned with Guriforex and follow us on Facebook.