• USD/JPY edged lower on Wednesday as safe haven yen firm ahead reciprocal U.S. tariffs
• U.S. President Donald Trump is expected to announce a broad set of trade levies on the country's trading partners at 2000 GMT, with immediate implementation anticipated..
• Trade-dependent developing economies with a large trade deficit with the U.S., including China, Mexico, Vietnam, Taiwan, South Korea, Thailand, India, and South Africa, are likely to be affected.
• Trump's actions are likely to intensify the global trade war, potentially slowing down global economic growth.
• Immediate resistance is located at 150.34 (50%fib), any close above will push the pair towards 151.00(Psychological level).
• Support is seen at 149.12 (38.2%fib) and break below could take the pair towards 147.64(23.6%fib).
Recommendation: Good to sell around 149.60, with stop loss of 150.50 and target price of 148.60
