- USD/JPY broke key level
- U.S. Interest Rates
Price Movement
Since yesterday, USD/JPY moved up by around 50pips before dropping for around 90pips.
Trend
Overall, USD/JPY is still trending upwards.
Macro Background
This morning (0300 SGT), the Federal Reserve kept the Federal Funds Rate unchanged as expected and the market reacted to the FOMC statement and Press Conference negatively, resulting in the soaring of AUD/USD.
Important Issue
None.
Technical
Yesterday, USD/JPY tested and rejected the resistance level of 109.744.
With the Federal Funds Rate announcement, USD/JPY dropped further and broke the 109 level.
Currently, USD/JPY is heading towards the support level of 108.734.
Price Levels
Current Price: 108.865
Next Resistance: 109.744
Next Support: 108.734