• USD/JPY fell sharply on Thursday as investors sought the safe-haven yen after Trump unleashed more aggressive-than-expected import tariffs, escalating the global trade war.
• Trump imposed a 10% baseline tariff on imports, with much higher rates for certain trading partners, especially in Asia.
• China was hit a 34% tariff, Japan 24%, Vietnam 46%, and South Korea 25%, while the European Union was hit with a 20% levy.
• Trump's actions are likely to intensify the global trade war, potentially slowing down global economic growth.
• Immediate resistance is located at 149.20 (Daily high), any close above will push the pair towards 150.06(38.2%fib).
• Support is seen at 147.07 (23.6%fib) and break below could take the pair towards 146.47(Lower BB).
Recommendation: Good to sell around 147.30, with stop loss of 149.00 and target price of 146.20
