FxWirePro: USD/JPY consolidating around 155.30, bias is bullish

 • USD/JPY steadied around 155.30 on Tuesday as the dollar strengthened with U.S. tariffs on Chinese goods taking effect.

• China announced tariffs on some U.S. imports in retaliation for Washington's 10% additional levies on Beijing, reigniting concerns of a trade war between the economies.

 • China’s new tariffs on targeted U.S. exports will begin on Feb. 10, giving Washington and Beijing time to try and reach a deal that Chinese policymakers hope to strike with Trump.

• At GMT 10:16, the pair was trading up 0.10 % at 155.30 . 

• Technical signals are  strongly bullish as RSI is   at 64, daily momentum studies  9, 11 and 14 DMAs are trending up.
 
• Immediate resistance is located at 155.75 (38.2%fib), any close above will push the pair towards 157.50 (23.6%fib).

•  Support is seen at 154.20 (50%fib) and break below could take the pair towards 153.03 (Lower BB)

Recommendation: Good to buy  around 155.10, with stop loss of 154.20 and target price of 155.80