• USD/JPY edged higher on Thursday as greenack reimed bid as fallout from war in the Middle East roiled global markets and kept sentiment fragile
• Markets remained on edge as the US–Israel war with Iran entered its sixth day after Iran launched a major missile barrage at Israel, forcing millions into bomb shelters amid ongoing conflict escalation.
• The spike in energy prices from the Middle East conflict has stoked inflation fears, potentially affecting rate outlooks for major central banks, including the Federal Reserve..
• Meanwhile, Donald Trump nominated former Fed Governor Kevin Warsh as the next Federal Reserve chair, moving closer to appointing a rate-cut supportive central bank leadership.
• Investors await United States weekly jobless claims data later in the day and the February employment report on Friday.
• Immediate resistance is located at 158.00(Psychological level), any close above will push the pair towards 158.43(Higher BB).
• Support is seen at 156.57 (38.2%fib) and break below could take the pair towards 155.43(SMA 20 ).
Recommendation: Good to buy around 157.00, with stop loss of 156.30 and target price of 157.80
