USD/JPY waits for Fed at 145.00/146.50

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


In general, the 146.50 level and the 200-hour simple moving average were enough to force the USD/JPY into a decline. On Tuesday, the decline eventually was approaching the 145.00 mark, as the US CPI release caused volatility and a slight recovery. Since these event, the rate has been waiting for the publication for the US Federal Funds Rate near the 145.50 mark, as 146.00 acts as resistance and the 100-hour SMA as support.

In general, the upcoming rate announcement and the press conference can cause anything. A sharp decline or a surge is usually expected, but there have been flat reactions to the events.

A potential surge above 146.00 and the 200-hour SMA could be slowed down by round price levels or the weekly R1 simple pivot point at 147.73, before the 150.00 mark would be reached.

Meanwhile, a decline of the US Dollar against the Yen would have to pass the 145.00/144.50 levels and the weekly simple pivot point at 144.67. Further below, also round levels might impact the pair, before 07. December level of 141.63 and the weekly S1 pivot point are reached.
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