20 Mar 2014
USD/JPY assaults 102.50
FXStreet (Edinburgh) - The USD/JPY is now attempting to break above the prevailing dullness around 102.40, challenging intraday tops beyond 102.50.
USD/JPY keeps the range post-FOMC
The pair jumped to the mid-102.00s after the hawkish tone from the FOMC gathering on Wednesday boosted the greenback, with spot rapidly leaving the area of 101.60. “With the Fed on course to end QE by October, it signals that the first Fed funds rate hike could occur as soon as April or May of next year. In addition, the Fed’s median projections for the Fed funds rate in the coming years were also raised”, noted Lee Hardman, Currency Analyst at BTMU.
USD/JPY levels to watch
The pair is now up 0.15% at 102.47 facing the next resistance at 102.69 (high Mar.19) ahead of 102.86 (high Mar.13) and finally 103.10 (high Mar.12). On the downside, a breach of 101.30 (low Mar.19) would open the door to 101.20 (low Mar.3) and then 101.00 (weekly Kijun Sen).
USD/JPY keeps the range post-FOMC
The pair jumped to the mid-102.00s after the hawkish tone from the FOMC gathering on Wednesday boosted the greenback, with spot rapidly leaving the area of 101.60. “With the Fed on course to end QE by October, it signals that the first Fed funds rate hike could occur as soon as April or May of next year. In addition, the Fed’s median projections for the Fed funds rate in the coming years were also raised”, noted Lee Hardman, Currency Analyst at BTMU.
USD/JPY levels to watch
The pair is now up 0.15% at 102.47 facing the next resistance at 102.69 (high Mar.19) ahead of 102.86 (high Mar.13) and finally 103.10 (high Mar.12). On the downside, a breach of 101.30 (low Mar.19) would open the door to 101.20 (low Mar.3) and then 101.00 (weekly Kijun Sen).