• USD/JPY slipped lower on Monday as escalating Russia-Ukraine conflict and Trump’s new tariff threat drove investors to the safe-haven yen.
• U.S. President Trump said Friday said he plans to raise tariffs on imported steel and aluminum from 25% to 50%, intensifying the trade war.
• Markets are closely watching whether President Trump will proceed with the planned 50% tariff increase on steel and aluminum imports this Wednesday.
• Meanwhile, Ukraine and Russia intensified fighting before their second peace talks in Istanbul, with Ukraine launching a major strike and Russia conducting an overnight drone attack.
• Immediate resistance is located at 148.48 (38.2%fib), any close above will push the pair towards 145.20(23.6%fib).
• Support is seen at 142.82(38.2%fib) and break below could take the pair towards 141.66(Lower BB).
Recommendation: Good to sell around 143.80, with stop loss of 144.50 and target price of 142.00
