• 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
