• USD/JPY declined towards 145.00 level on Tuesday as dollar weakened after U.S. President Donald Trump announced a ceasefire between Israel and Iran.
• Trump declared a full ceasefire between Israel and Iran, aiming to end a 12-day conflict that displaced millions and sparked fears of broader war.
• Adding to the dollar’s weakness were dovish remarks from Federal Reserve official Michelle Bowman, who suggested that the central bank should consider cutting interest rates in the near future..
• Federal Reserve Chair Jerome Powell is scheduled to testify before the U.S. Congress on Tuesday and Wednesday, with markets closely watching for clues on the future path of interest rates.
• Key resistance levels: 145.55 (50%fib), 146.85 (Upper Bollinger Band), and 148.08 (61.8%fib).
• Support levels: 144.63 (SMA 20), 143.28 (38.2%fib), and 142.29 (Lower BB).
Recommendation: Good to sell around 145.30, with stop loss of 146.40 and target price of 144.30
