USD/JPY surges after Fed rate hike

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


The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press conference of the Chairman of the US Fed. As the head of the central bank made his speech, the initial move extended and the US Dollar surged, moving the rest of the markets down.

On the USD/JPY charts the event has caused a recovery. By the middle of Thursday's trading, the pair had reached the 137.00 mark. During the surge, the rate ignored the resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point.

A continuation of the surge might be slowed down by the 137.50 mark, before approaching the resistance zone at 137.85/137.95. On the other hand, a decline could look for support in the 136.00 and 135.50 levels.
Back to articles

Actual Topics

Thu, 15 Dec 2022 11:20:41 GMT

Gold is back at 1,775.00

The Federal Reserve rate hike and following press conference caused a surge of the US Dollar. On the gold price charts it resulted in a drop below the support of the 1,805.00 level. After the event, the price declined below 1,795.00. By mid-Thursday, the price was at 1,775.00. A continuation of the decline of the commodity price could look for support

Thu, 15 Dec 2022 11:08:07 GMT

GBP/USD expects Bank of England rate

The United States Federal Reserve hiked its Federal Funds Rate by 0.50%. The market consensus forecast was a 0.50% hike, which has brought the rate from 4.00% up to 4.50%. The initial rate hike caused a surge of the US Dollar, drop of the equity markets and surge of peer currencies. The event was followed by the press

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.