• USD/JPY fell on Wednesday as rising trade tensions and fears about global economic growth boosted demand for the safe-haven yen.
• Trump has sharply raised tariffs on Chinese goods, prompting Beijing to impose retaliatory duties on U.S. imports
• In a further sign of rising tensions, China ordered its airlines not to take further deliveries of Boeing planes in response to the U.S. decision to impose 145% tariffs on Chinese goods
• Investors have shifted toward safe-haven assets since the U.S. announced reciprocal tariffs, putting pressure on the dollar and lifting demand for currencies like the Swiss franc and Japanese yen.
• Looking ahead, investors are awaiting U.S. retail sales data later today for insights into the economy and the Federal Reserve's future policy direction.
• Immediate resistance is located at 143.26 (Daily high), any close above will push the pair towards 144.44(38.2%fib).
• Support is seen at 142.02 (23.6%fib) and break below could take the pair towards 140.52(Lower BB).
Recommendation: Good to sell around 143.00, with stop loss of 144.00 and target price of 142.20
