FxWirePro: USD/JPY edges higher amid strong U.S. economic data

• USD/JPY ticked up on Wednesday as positive U.S. economic data boosted the dollar, despite persistent concerns about U.S. fiscal health and trade policies.

• U.S. consumer confidence rebounded in May after five months of decline, helped by a trade truce with China, though concerns over tariff-driven price increases and economic impact persisted.

• The Conference Board reported on Tuesday that its consumer confidence index rose by 12.3 points to 98.0 in May, sharply beating Reuters' forecast of a modest rise to 87.0.

• Meanwhile, BOJ Governor Ueda warned Wednesday that volatility in super-long bond yields could spill over to short-term rates and the wider economy.

•  Yields on super-long Japanese government bonds (JGBs) hit record highs last week amid a global bond sell-off driven by rising concerns over deteriorating fiscal conditions in advanced economies.

• Immediate resistance is located at 144.93 (50%fib), any close above will push the pair towards 146.19(May 16th May).

•  Support is seen at 142.36(38.2%fib) and break below could take the pair towards  141.86 (Lower BB  ).

 Recommendation: Good to sell around 144.40 with stop loss of 146.00  and target price of 142.50