FxWirePro: USD/JPY runs out of steam but maintains bullish outlook

 • USD/JPY edged lower  on Tuesday as the dollar eased following President Trump’s announcement of Fed Governor Lisa Cook’s removal over alleged mortgage fraud.

• Trump told Fed Governor Lisa Cook she was being fired over alleged mortgage improprieties, but Cook rejected the move, saying he lacks authority and she will not resign.

• The move marks an unprecedented escalation in Trump’s clash with the Fed over slow rate cuts, heightening investor concerns about the central bank’s independence.

• Investor attention is now centered on the upcoming Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation measure, for fresh guidance on the U.S. interest rate outlook.

• The report, scheduled for release on Friday, will be closely watched for signals on the timing and pace of potential Fed rate cuts.

• Immediate resistance is located at 147.80(SMA 20), any close above will push the pair towards 148.50(38.2%fib).

•  Support is seen at 146.76(50%fib) and break below could take the pair towards  145.70(Lower BB.

Recommendation: Good to buy around 147.50, with stop loss of 146.60 and target price of 148.20