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18 Mar 2015
USD/JPY: Consolidated in between breakout points
FXStreet (Guatemala) - USD/JPY is currently trading at 121.35 with a high of 121.38 and a low of 121.28.
USD/USD has opened Tokyo with very little to say for itself. Static on the basis we are awaiting the FOMC announcements and while it is expected that rates will be on hold, the statement is what the market is looking out for.
Will the verbiage of the forward guidance be tweaked to remove the word "patience"? In doing do, it signals to the markets that a rate hike is on the cards with the economy moving along at the justifiable pace.
However, there may be some elevated concern over the value of the dollar as well. Technically, the picture remains the same with breakout points untouched while the pair consolidates in the middle of the 120.38 /122.00 levels.
USD/USD has opened Tokyo with very little to say for itself. Static on the basis we are awaiting the FOMC announcements and while it is expected that rates will be on hold, the statement is what the market is looking out for.
Will the verbiage of the forward guidance be tweaked to remove the word "patience"? In doing do, it signals to the markets that a rate hike is on the cards with the economy moving along at the justifiable pace.
However, there may be some elevated concern over the value of the dollar as well. Technically, the picture remains the same with breakout points untouched while the pair consolidates in the middle of the 120.38 /122.00 levels.