USD/JPY drops on Powell's comments

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday, the US Federal Reserve hiked interest rates by 0.50%. Afterwards, the Chairman of the bank Jerome Powell hosted a press conference. Comments made by Powell that the bank is not considering 0.75% rate hikes caused a drop of the US Dollar.

On the USD/JPY charts the event resulted in a sharp move below the 129.00 level and a support zone that surrounds it. A continuation of the decline might look for support in 128.50, 128.00 and 127.50, before reaching the weekly S1 simple pivot point at 127.43.

However, a recovery of the US Dollar against the Yen would have to pass the resistance zone at 128.90/129.10, the 200-hour simple moving average and the weekly simple pivot point at 129.34.

Back to articles

Actual Topics

Wed, 04 May 2022 19:50:05 GMT

Gold recovers to 1,890.00

On Wednesday, the comments made at the Federal Reserve press conference by the Chairman Jerome Powell caused a drop of the US Dollar's value. On gold price charts it resulted in a move above a resistance zone at 1,872.00/1,878.00 up to the 1,890.00 level. If the price for gold continues to recover, it might encounter resistance in the 1,900.00 mark and

Wed, 04 May 2022 18:54:13 GMT

GBP/USD reacts to Federal Reserve

During the US Federal Reserve rate hike and the following press conference, the GBP/USD was highly volatile in the 1.2450/1.2550 range. As the head of the Federal Reserve stated that the Fed is not considering a 0.75% rate hike, the GBP/USD started to move upwards. The surge was expected to test the resistance of the 1.2590/1.2615 zone. This range had acted

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.