• USD/JPY rose on Monday as greenback strengthened, driven by growing concerns over a global trade war triggered by President Trump's broad tariff measures.
• On Saturday, Trump imposed 25% tariffs on imports from Canada and Mexico, and 10% on goods from China, effective Tuesday. White House officials confirmed that there would be no exemptions from these tariffs..
• Canada and Mexico quickly promised retaliatory measures, while China announced plans to challenge Trump’s tariffs at the World Trade Organization.
• At GMT 06:06 the pair was trading up 0.21 percent at 155.49.
• Immediate resistance is located at 156.08(38.2%fib), any close above will push the pair towards 157.00 (Psychological level).
• Support is seen at 154.02(50%fib) and break below could take the pair towards 153.18 (Lower BB)
Recommendation: Good to buy around 155.20, with stop loss of 154.20 and target price of 156.60
