FxWirePro: USD/JPY neutral in the near-term, scope for downward resumption

 • USD/JPY edged higher on Tuesday but gains were limited as investors grew increasingly anxious about the potential impact of a global trade war.

 • Trump stated on Monday that tariffs on Canadian and Mexican imports are "on time and on schedule," despite efforts by both countries to strengthen border security and curb the flow of fentanyl into the U.S. before the March 4 deadline

• On the data front, Japan's service-sector inflation leading indicator in January accelerated to 3.1% year-on-year, as prices for various services continued to rise, sustaining expectations for further interest rate hikes by the central bank.

• At GMT 11:23, The greenback  was last  trading up 0.11% to 149.80 against Japanese  yen.
 
• Immediate resistance is located at 150.59(50%fib), any close above will push the pair towards 151.00(Psychological level).

•  Support is seen at 149.03 (38.2%fib) and break below could take the pair towards 147.76 (Lower BB)

Recommendation: Good to sell  around 149.80, with stop loss of 151.50 and target price of 149.00