• USD/JPY inched up on Monday as the dollar strengthened amid concerns over U.S. President Donald Trump's tariff policies.
• Trump last week threatened China with an extra 10% duty, set to take effect on Tuesday, resulting in a cumulative 20% tariff.
•Meanwhile, U.S. duties on imports from Canada and Mexico will take effect on Tuesday.
• Traders now await the U.S. payrolls report due later this week for more clues on the Fed's monetary policy.
• Technical signals are bearish as RSI is heading down at 44, daily momentum studies 11, 14 and 21 DMAs are trending down.
• Immediate resistance is located at 151.05 (38.2%fib), any close above will push the pair towards 151.86(50%fib).
• Support is seen at 150.11 (38.2%fib) and break below could take the pair towards 149.05 (23.6%fib).
Recommendation: Good to sell around 151.00, with stop loss of 151.50 and target price of 150.50
