FxWirePro: USD/JPY retreats form two week high ,but the trend is still bullish

• USD/JPY retreated from two week high on Thursday as Japanese Yen regained some strength across the board after being pressured earlier this week.

• The U.S. and Japan have failed to make progress in trade talks, primarily due to Tokyo’s resistance to opening its rice market.

•  In response, President Trump announced a 25% tariff on Japanese goods, to be enforced from August 1, and firmly ruled out pushing back the deadline..

• Market participants await further statements and clues on whether negotiations will resume ahead of the August 1 U.S. deadline.

• Producer price inflation in Japan cooled to 2.9% y/y in June 2025, following a slightly revised 3.2% in May. Monthly producer prices declined 0.2% in June, extending the drop from May's 0.1% dip.

• Immediate resistance is located at 147.41 (61.8%fib), any close above will push the pair towards 148.63(Higher BB).

•  Support is seen at 145.58(38.2%fib) and break below could take the pair towards  144.18 (July 7th low).

Recommendation: Good to buy around 146.10, with stop loss of 145.50 and target price of 147.30