Tokyo had expected smooth tariff negotiations but is experiencing whiplash, becoming a central target of President Trump’s trade frustrations.

U.S. Secretary of State Marco Rubio on Friday played down concerns about relations with key U.S. ally Japan, saying there is no "drama or division," despite the Japanese prime minister speaking of the need for Tokyo to wean itself off U.

Japan thought it had a special relationship with the U.S. Now, Tokyo is finding that its security alliance counts for little as it struggles to cut a trade deal.

The USD/JPY has established a consolidation range around 145.65, now extending to 147.17. A short-term pullback to 145.65 (testing from above) is anticipated, followed by a potential upward wave targeting 147.47 at minimum. This outlook is supported by the MACD indicator, with its signal line firmly above zero and trending upward.

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement

The United States on Monday announced 25% tariffs on imports from Japan and South Korea, set to take effect on Aug. 1. These tariffs target major trading partners and focus on automobiles, electronics and industrial products,

South Korean President Lee Jae-myung, speaking on Thursday in a press conference after taking office last month, vowed to "protect peace and people's lives through practical diplomacy centered on national interests,