FxWirePro: USD/JPY recovers some ground but trend is still bearish

• USD/JPY edged higher on  Tuesday as caution over U.S.-China trade talks overshadowed hawkish BoJ comments.

• White House Press Secretary Karoline Leavitt said Monday that President Trump and Chinese President Xi Jinping are likely to speak this week, after Trump accused Beijing of violating their tariff rollback agreement.

• BOJ Governor Kazuo Ueda said the central bank will hike rates once it's confident economic and price growth will rebound after stagnation.

• Ueda signaled the BOJ will keep tapering bond purchases beyond March, showing its commitment to gradually exiting ultra-easy policy.

• Markets will closely monitor the call as tariff-driven trade tensions between the world’s two largest economies continue to simmer.

• Immediate resistance is located at 144.23 (38.2%fib), any close above will push the pair towards 144.00(Psychologial level).

•  Support is seen at 142.18(23.6%fib) and break below could take the pair towards  140.83(Lower BB).

Recommendation: Good to sell  around 143.20, with stop loss of 144.50 and target price of 142.00