FxWirePro: USD/JPY downtrend loses steam but outlook still bearish

• USD/JPY recovered from 1 -week low on Wednesday as optimism over potential U.S.-China trade talks weakened demand for safe-haven yen.

• U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet China's top economic official He Lifeng in Switzerland this weekend for discussions.

• Both countries imposed tit-for-tat tariffs last month, sparking a trade war that raised concerns about a potential global recession.

• Investors are also eyeing the FOMC meeting later today, with the Fed expected to maintain current interest rates.

• Traders are betting the Fed will resume its easing cycle in July, but some economists reckon high inflation will prevent any rate cuts at all this year.
 
• Immediate resistance is located at 143.33 (38.2%fib), any close above will push the pair towards 145.16(Higher BB).

• Support is seen at 142.00(Psychological level) and break below could take the pair towards  140.79(Lower BB).

Recommendation: Good to sell around 143.30, with stop loss of 144.00 and target price of 142.20