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FxWirePro:USD/JPY attracts selling interest, vulnerable to more downside

• USD/JPY edged lower on Wednesday   as greenback was pressured by growing investor unease over the escalating conflict in the Middle East.
 
• Iran-Israel conflict entered day six, with U.S. deploying more fighter jets to the Middle East, raising fears of deeper involvement.

• Heightened tensions added to market caution amid Trump's unpredictable tariffs and stalled trade talks ahead of the July 8 tariff-pause deadline.

• Looking ahead, markets awaited the Fed's policy meeting, with rates expected to stay unchanged; focus is on comments for clues on navigating trade uncertainty.

• At GMT 11:00, the  dollar was trading down 0.19% at 144.84 against Japanese yen   .

• Immediate resistance is located at 145.65 (50%fib), any close above will push the pair towards 146.13 (Higher BB).

•  Support is seen at 143.43(38.2%fib) and break below could take the pair towards  142.18(Lower BB).

Recommendation: Good to sell around 145.00, with stop loss of 145.70 and target price of 143.50
 

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