• USD/JPY traded in tight range on Thursday as fears mount over Trump's reciprocal tariff plans.
• On Wednesday, U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, set to take effect next week, escalating the global trade war.
• Investors worried that Trump’s reciprocal tariffs, set for April 2, could drive inflation, slow growth, and escalate trade tensions.
• Investors await Friday’s U.S. PCE data for insights into the interest rate outlook,which could shed more light on the U.S. interest rate path.
• At GMT 09.01,the dollar was down 0.05% at 150.63 against Japanese yen .
• Immediate resistance is located at 150.75 (50%fib), any close above will push the pair towards 151.65(Higher BB).
• Support is seen at 149.75(March 26th low) and break below could take the pair towards 149.15(38.2%fib).
Recommendation: Be on side lines
