• USD/JPY slipped lower on Friday as global trade frictions and further rate-cut hopes pushed investors towards the safe yen.
• China and the U.S. clashed again on trade overnight, with Beijing rejecting White House pressure and accusing Washington of stoking alarm over rare earth restrictions..
• . The latest escalation adds to ongoing tensions between the world’s two largest economies, highlighting the growing risk of a prolonged trade standoff and its potential impact on global supply chains.
•Meanwhile, BOJ Governor Ueda stated in Washington on Thursday that the central bank is prepared to raise its key policy rate if the chances of meeting its growth and inflation forecasts improve.
•The yen has weakened since fiscal dove Sanae Takaichi was elected leader of Japan’s ruling LDP earlier this month, but her appointment as prime minister has been delayed due to a split with the party’s coalition partner
• Immediate resistance is located at 151.50(Daily high), any close above will push the pair towards 153.11(23.6%fib).
• Support is seen at 149.59 (50%fib) and break below could take the pair towards 149.00 (Psychological level)
Recommendation: Good to sell around 149.70, with stop loss of 150.50 and target price of 149.00
