USD/JPY chart - Trading View
- USD/JPY edges lower from session highs at 110.05, risk-off keeps yen supported.
- The planned US tariff hike on Chinese goods from 10% to 25% is still set to take effect at 00:01 hours Friday New York time, 12:01 GMT.
- US-China trade talks expected to extend beyond the tariffs hike deadline. If both sides again fail to reach a deal, then Beijing may respond with its own set of tariff hikes.
- Escalating trade war fears keep demand for haven currencies like JPY and the Swiss Franc.
- Technical indicators support weakness in the pair. Momentum with the bears.
- Break below 38.2% Fib eyes 108.50 (Jan 31st low) and then 61.8% Fib at 107.61.
- 5-DMA is immediate resistance at 110.12. Break above could see gains till cloud top .
Call update: Our previous call (https://www.econotimes.com/FxWirePro-USD-JPY-breaks-below-daily-cloud-eyes-382-Fib-at-10944-1533882) has almost hit TP1.
Recommendation: Book partial profits at lows. Hold for further downside.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


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