FxWirePro: USD/JPY dips as trade uncertainty fuels demand for safe-haven yen

• USD/JPY dipped on Tuesday as persistent trade-related uncertainty continued to fuel demand for safe haven yen.

• Last week, Trump announced a 10% baseline tariff on all imports to the U.S., along with higher duties on several other countries, including key U.S. trading partners, shaking global markets and leaving U.S. allies puzzled.

• U.S. President Donald Trump stated that Japan will send a delegation to discuss trade, after having spoken with Japanese Prime Minister Shigeru Ishiba earlier on Monday

• The Japanese Prime Minister stated that during a telephone call with Trump, he expressed his deep disappointment with the tariff policies and urged him to reconsider.

• Trump's decision to impose a 25% tariff on auto imports and a 24% reciprocal tariff on other Japanese goods is expected to severely impact Japan's export-driven economy.

 
•  Immediate resistance is located at 148.17 (April 7th high), any close above will push the pair towards 149.03(38.2%fib).

•  Support is seen at 146.89 (38.2%fib) and break below could take the pair towards 144.18(23.6%fib).

Recommendation: Good to sell around 147.30, with stop loss of 148.00 and target price of 145.00