• USD/JPY declined on Thursday as traders sought safe-haven assets like the yen after Trump escalated the trade war with China while pausing tariffs for 90 days on other countries.
• In a surprising move, Trump announced Wednesday he would temporarily reduce recently imposed tariffs on several countries while increasing pressure on China, causing U.S. stocks to surge.
• That dampened some of the optimism from the overnight tariff pause, as markets grew concerned about the long-term impact on growth and how Trump's economic policies would unfold during his term.
• Investor optimism surrounding the potential for a U.S.-Japan trade deal also provided a positive catalyst for the Japanese yen .
• Immediate resistance is located at 147.92 (50%fib), any close above will push the pair towards 149.24(April 3rd high).
• Support is seen at 146.38 (23.6%fib) and break below could take the pair towards 145.39(Lower BB ).
Recommendation: Good to sell around 147.20, with stop loss of 148.00 and target price of 146.00
