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

• USD/JPY slipped lower on  Monday as dollar dipped after Trump fueled speculation about Powell's early departure with his Friday remarks.

• Advocating a sharply more accommodative monetary stance, Trump said he wants the benchmark rate cut to 1%, down from the current 4.25%–4.50%, and reiterated his intention to replace replace Fed Chair Powell with a more dovish successor.

• A slew of U.S. data releases is due this week, including a key jobs report that could shape market expectations for the Fed’s next move.

• Japan’s factory output rose less than expected in May, as sweeping U.S. tariffs threatened to disrupt the country’s fragile economic recovery, government data showed Monday.

• Industrial output rose 0.5% in May from the prior month, well below the 3.5% increase expected, according to data from Japan’s Ministry of Economy, Trade and Industry (METI)..

• Immediate resistance is located at 144.23 (20SMA), any close above will push the pair towards 146.76(50%fib).

•  Support is seen at 143.63(38.2%fib) and break below could take the pair towards  142.59(Lower BB).

Recommendation: Good to sell  around 144.40, with stop loss of 145.50 and target price of 143.30