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Free AccessBegins to Pressure Y103.20/00 Support
- Initial hawkish react to the FOMC announcement saw USD/JPY spike to Y103.92, having seen a low earlier in the day of Y103.26.
- However, Fed Powell dampened this initial enthusiasm which saw the recent pressure on the USD return and press USD/JPY down to Y103.40 ahead of the close.
- Rate extended this recovery to Y103.56 in early Asia, suggested to have been driven by AUD/JPY demand in reaction to strong AUD data. However, general reaction saw stronger USD sales which weighed back and pressed USD/JPY down to challenge reported support into Y109.20(low Y103.21). Support is seen from around Y103.20 through to Y103.00. Resistance Y103.90/104.00, Y104.15/20.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.