• USD/JPY regained some ground after an early drop, supported by short-covering as traders unwound some bearish bets.
• Despite the short-covering bounce, the broader market sentiment remains bearish.
• Safe-haven assets remained in demand, though market movements were less pronounced compared to the previous day.
• At GMT 08:23,the dollar was up 0.07% at 147.37 against Japanese Yen .
• Immediate resistance is located at 148.21(Daily high), any close above will push the pair towards 148.22 (38.2%fib).
• Support is seen at 146.21(23.6%fib) and break below could take the pair towards 145.47(Lower BB ).
Recommendation: Good to sell around 147.50, with stop loss of 148.30 and target price of 146.50
