FxWirePro: USD/JPY slides on trade war worries and safe-haven buying

• USD/JPY fell sharply on Monday  as dollar weakened on concerns over global economic growth amid the U.S.-Sino trade war.

• Trump’s sweeping tariffs and uncertainty surrounding his trade policies have roiled global markets and clouded the outlook for the U.S. economy.

• While Trump has paused some of the steepest import tariffs, the U.S. remains locked in a trade battle with China, the world’s second-largest economy.

• On Monday, China warned countries against making broader economic deals with the U.S. at its expense, amid reports that Trump is pressuring nations seeking tariff relief.
 
• Immediate resistance is located at 142.28 (Daily high), any close above will push the pair towards 143.00(Psychological level).

•Support is seen at 140.54 (23.6%fib) and break below could take the pair towards 139.63Lower BB).

Recommendation: Good to sell around 140.80, with stop loss of 141.50 and target price of 140.00