FxWirePro: USD/ JPY dips as tariff twist dents dollar

 • USD/JPY declined on Monday  as the dollar dipped after fresh tariff threats from US President Donald Trump undermined confidence in the greenback .

  • Confusion deepened after the Supreme Court of the United States struck down President Donald Trump’s emergency tariffs. He initially proposed a new 10% global tariff, only to unexpectedly raise it to 15%.

  • In Friday’s decision, the Supreme Court of the United States struck down President Donald Trump’s sweeping tariffs imposed under a national emergency law, rejecting one of his most controversial uses of executive authority in a ruling with significant global economic implications.

• The move raised fears that U.S. trade agreements could unravel, though senior officials said existing deals would stay intact.
 
• Immediate resistance is located at 145.32 (50%fib), any close above will push the pair towards 146.00 (Psychological level).

•  Support is seen at 153.91 (38.2%fib) and break below could take the pair towards 142.16 (23.6%fib)

Recommendation: Good to sell  around 154.70, with stop loss of 155.00 and target price of 153.50