• 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
