• USD/JPY retreated on Tuesday as greenback weakened on concerns of a weaker economy and uncertainty over the Federal Reserve's next policy move.
• Fed Governor Michelle Bowman warned that key inflation measures are still uncomfortably above the Fed's 2% target, suggesting caution as the Fed moves forward with interest rate cuts.
• For the week, weekly jobless claims and personal consumption expenditure data will remain in focus.
• Technical signals are bearish as RSI is heading down at 46, daily momentum studies 5, 9 and 1 DMAs are trending down.
• Immediate resistance is located at 144.54 (Daily high), any close above will push the pair towards 145.65 (38.2%fib).
• Support is seen at 142.01 (23.6%fib) and break below could take the pair towards 140.30(Lower BB).
Recommendation: Good to sell around 143.70, with stop loss of 144.60 and target price of 143.00
