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28 Jan 2015
USD/JPY unchanged ahead of Fed statement – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, mentions that USD/JPY has been unable to break out of its 117.46-118.69 range, with markets keeping a close on the FOMC statement.
Key Quote
“The Japanese yen has been marked by choppy trade on Wednesday, as USD/JPY trades just shy of the 118 line early in the North American session.”
“On the release front, Japan will release Retail Sales later in the day. The markets are expecting a strong rebound of 1.1% in the January release.”
“In the US, the markets are keeping a close eye on the FOMC Statement. The only other event is Crude Oil Inventories, with the markets expecting a strong downturn in the upcoming report.”
“USD/JPY has shown movement in both directions but has been unable to break out of range.”
“118.69 is an immediate resistance line. 117.49 is under pressure as a support line. 116.69 is stronger.”
“Current range: 117.49 to 118.69”
Key Quote
“The Japanese yen has been marked by choppy trade on Wednesday, as USD/JPY trades just shy of the 118 line early in the North American session.”
“On the release front, Japan will release Retail Sales later in the day. The markets are expecting a strong rebound of 1.1% in the January release.”
“In the US, the markets are keeping a close eye on the FOMC Statement. The only other event is Crude Oil Inventories, with the markets expecting a strong downturn in the upcoming report.”
“USD/JPY has shown movement in both directions but has been unable to break out of range.”
“118.69 is an immediate resistance line. 117.49 is under pressure as a support line. 116.69 is stronger.”
“Current range: 117.49 to 118.69”