• USD/JPY eased slightly on Tuesday as dollar lost steam as initial optimism over the U.S.-China trade truce faded
• Worries over U.S. growth and stalled trade negotiations have unsettled markets since President Trump introduced sweeping tariffs in early April.
• Investor focus now shifts to the details of the agreement and what follows after the 90-day truce. In the meantime, attention turns to U.S. inflation data due later on Tuesday.
• At GMT 10:12, the US dollar was down 0.37% to 148.07 against the yen.
• Immediate resistance is located at 148.86 (38.2%fib), any close above will push the pair towards 151.04(23.6%fib).
• Support is seen at 147.17(50%fib) and break below could take the pair towards 146.00(Psychological level).
Recommendation: Good to buy around 148.00, with stop loss of 147.50 and target price of 150.00
