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FxWirePro: USD/JPY downside pressure builds, key support level in focus

• 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

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