FxWirePro: USD/JPY capped by the 38.2% fibonacci, good to sell on rally

• USD/JPY  strengthened  on Monday as dollar rebounded on rate uncertainty and tariff threat.

•On the data front, Japanese corporate spending on plant and equipment accelerated in the third quarter, indicating strong domestic demand that supports the country's fragile economic recovery and bolsters the case for further interest rate hikes.

• Capital spending rose 8.1% year-on-year in the third quarter, according to finance ministry data, up from a 7.4% gain in the previous quarter

•At GMT 08:43, the pair was trading last up 0.55 percent  at 18.139 

•  Immediate resistance is located at 150.71 (38.2%fib), any close above will push the pair towards 152.83 (23.6%fib).

• Support is seen at 149.09 (50%fib) and break below could take the pair towards 147.32(61.8%fib).        

Recommendation: Good to sell around 150.20, with stop loss of 151.50 and target price of 149.30

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