• USD/JPY dipped on Tuesday as tariff fears kept investors on edge ahead of Trump’s announcement
• Trump is expected to announce reciprocal tariffs on April 2, with automobile tariffs set to take effect on April 3.
• On the data front, Japan's factory activity declined more sharply in March as demand weakened, with the escalating U.S. trade war dampening the manufacturing outlook, according to a private-sector survey released on Tuesday.
• The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) dropped to 48.4 in March, down from 49.0 in February, marking the lowest level in 12 months.
• Immediate resistance is located at 150.55 (50%fib), any close above will push the pair towards 151.17(Higher BB).
• Support is seen at 149.29 (50%fib) and break below could take the pair towards 148.15( 38.2%fib).
Recommendation: Good to sell around 149.60, with stop loss of 150.30 and target price of 148.80
