• USD/JPY fell sharply Monday as traders flocked to safe haven yen due to lingering worries over tariffs and a U.S. economic slowdown.
• On the data front, Japan's real wages fell in January after two months of slight gains, data showed on Monday, days before the annual spring rounds of pay talks culminates at major firms.
• Markets remained focused on trade tensions as Trump imposed tariffs on key partners but later delayed some for a month amid U.S. slowdown fears.
• The Bank of Japan is widely expected to keep interest rates unchanged at its upcoming policy review on March 18-19, as policymakers assess economic conditions and the impact of global uncertainties.
• Immediate resistance is located at 148.22 (38.2%fib), any close above will push the pair towards 148.45(50%fib).
• Support is seen at 146.80(23.6%fib) and break below could take the pair towards 145.73(Lower BB ).
Recommendation: Good to sell around 147.10, with stop loss of 147.60 and target price of 146.50
