• USD/JPY declined on Wednesday as the Japanese yen strengthened amid U.S. tariff implementation and global risk aversion.
• Trump's decision to impose broad tariffs globally, including on Japan, has complicated the BOJ's efforts to raise interest rates from their historically low levels.
• Bank of Japan Governor Kazuo Ueda stated on Wednesday that the central bank will closely assess the impact of U.S. tariffs on the economy when making monetary policy decisions.
• The BOJ next meets for a policy meeting on April 30-May 1, when the board is seen keeping interest rates steady at 0.5% and issuing fresh quarterly economic forecasts.
• As global markets navigate the complexities of international trade, all eyes are on the upcoming meeting between a Japanese trade delegation and U.S. officials.
• Immediate resistance is located at 146.26 (38.2%fib), any close above will push the pair towards 147.38(April 4th high).
• Support is seen at 144.73 (23.6%fib) and break below could take the pair towards 143.99(Lower BB ).
Recommendation: Good to sell around 144.90, with stop loss of 145.50 and target price of 144.00
