• USD/JPY advanced on Friday as stronger greenback and diminishing prospects for a U.S.-Japan trade agreement weighed on yen.
• The lack of diplomatic progress, combined with Japan’s upcoming Upper House elections on July 20, has clouded the political landscape, prompting investors to shy away from the yen.
• The yen has been under consistent downward pressure, as the likelihood of a swift resolution to U.S.-Japan trade discussions diminishes.
• Until clearer direction emerges from both Washington and Tokyo, JPY may remain on the defensive.
• Immediate resistance is located at 147.52(50%fib), any close above will push the pair towards 148.05(June 23rd high).
• Support is seen at 145.35(SMA 9) and break below could take the pair towards 145.00 (Psychological level).
Recommendation: Good to buy around 146.70, with stop loss of 146.00 and target price of 148.00


FxWirePro- Major Pair levels and bias summary
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path
FxWirePro: USD/JPY dips as yen strengthens ahead of BOJ policy meeting
FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations
Yen Surge Dims NZDJPY Shine: Bearish Trend Holds Below 91 Resistance
FxWirePro- Major European Indices
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
FxWirePro: USD/CAD slides as U.S. dollar weakens after jobs data
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/NZD remains bullish as rally continues
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower 



