29 Jan 2015
USD/JPY steady in Tokyo post FOMC overnight
FXStreet (Guatemala) - USD/JPY is currently trading at 117.60 and is steady on the open post a lower greenback from 118.21 overnight, then 117.97 to lows of 117.25.
USD/JPY bulls are tiring and rightly so with failed attempts to the upside of the 119 handle and shy of the psychological 120.00 level. The commitment is lacking there and decent offers pile in at 118.90 and the pair is making lower highs since the 20th Jan trading.
Today, in the US session, the FOMC left rates on hold but the statement signified a unified committee that are giving themselves further time to allow a clearer picture to emerge of the state of the US economy, leaving patience as the theme for markets to get accustomed to.
A bullish picture was painted for the US economy, US stocks rose, yields dropped and analysts are starting to track back on estimates for a rate rise as early as mid 201. The Fed see down side risks to inflation in the near term but remain confidant that their inflation target of 2% will be achieved in the medium term. Meanwhile, we remain in familiar ranges and better directional trading opportunities may lie else where.
USD/JPY bulls are tiring and rightly so with failed attempts to the upside of the 119 handle and shy of the psychological 120.00 level. The commitment is lacking there and decent offers pile in at 118.90 and the pair is making lower highs since the 20th Jan trading.
Today, in the US session, the FOMC left rates on hold but the statement signified a unified committee that are giving themselves further time to allow a clearer picture to emerge of the state of the US economy, leaving patience as the theme for markets to get accustomed to.
A bullish picture was painted for the US economy, US stocks rose, yields dropped and analysts are starting to track back on estimates for a rate rise as early as mid 201. The Fed see down side risks to inflation in the near term but remain confidant that their inflation target of 2% will be achieved in the medium term. Meanwhile, we remain in familiar ranges and better directional trading opportunities may lie else where.