FxWirePro:USD/JPY longs hold the higher ground as US dollar get temporary reprieve

• USD/JPY strengthened on Thursday   as the dollar strengthened on news of the U.S. court blocking most of Trump’s tariffs.

• The Court of International Trade ruled that President Trump exceeded his authority by imposing broad tariffs on imports from countries with trade surpluses against the United States.

• The Trump administration quickly responded by filing an appeal against the court’s ruling, signaling ongoing legal battles over the scope of presidential authority in imposing tariffs.0.

• This ruling has injected volatility into the currency markets and bolstered the greenback.

•  At GMT 08:17, the   dollar was up 0.27% to 145.24 against the   yen.

• Immediate resistance is located at 146.66 (50%fib), any close above will push the pair towards 147.90(Higher BB).

• Support is seen at 144.60(38.2%fib) and break below could take the pair towards  144.00 (Psychological level  ).

 Recommendation: Good to sell around 145.50 with stop loss of 146.40  and target price of 144.00