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FxWirePro: USD/JPY drops to seven -month low ahead of NFP data

• USD/JPY fell  hit seven month low on Friday    as trade tariff fears and risk-off sentiment strengthened demand for the safe-haven yen.

• Uncertainty over Trump’s trade policies and their global economic impact continues to weigh on investor sentiment.

• Trump suspended the 25% tariffs on most Canadian and Mexican goods Thursday, adding another twist to his shifting trade policy that has unsettled markets.

• The U.S. nonfarm payrolls report, due at 13:30 GMT, will provide insights into Fed policy, followed by Chair Powell's speech on the economic outlook.

• At GMT 11.21,the dollar was down  0.25% at 147.67 against Japanese yen .
 
•  Immediate resistance is located at 148.22 (Daily high), any close above will push the pair towards 148.955(38.2%fib).

•  Support is seen at 147.52(23.6%fib) and break below could take the pair towards 146.49(Lower BB ).

Recommendation: Good to sell around 147.80, with stop loss of 148.60 and target price of 147.00
 

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