FxWirePro: USD/JPY edges higher but bearish outlook persists

• USD/JPY recovered some ground on Wednesday  as Japanese Yen attracts some sellers amid doubts over a US-Japan trade deal.
 
•  President Trump voiced frustration with Tokyo’s trade stance on both Monday and Tuesday, suggesting growing tensions between the two nations over the pace and terms of a potential agreement.

•  Trump warned he could hike tariffs on Japanese goods to 30–35%, well above the 24% rate declared on April 2 and delayed pending the July 9 deadline..

•     The U.S. labor market showed resilience in May with a jump in job openings, prompting investors to closely watch Thursday’s payrolls for rate cut signals.

•    Key resistance levels: 144.11(38.2%fib), 144.78 (SMA 20), and 146.58 (Higher BB).

•    Support levels: 142.84 (Lower BB), 142.00 (Psychological level)and  140.62(23.6%fib).

Recommendation: Good to sell around 144.20, with stop loss of 144.80 and target price of 143.20