Free Trial

USDJPY Extends Gains Ahead of FOMC Minutes, Breaches 146.00

JPY
  • In the lead up to the FOMC minutes due at 1900BST/1400ET, USDJPY has breached the 146 handle and is extending the day’s gains to around 0.4% on the session amid a broader rebound for the USD index and ongoing Yen weakness.
  • The uptrend for the pair resumed following the break of key resistance at 145.07, Jun 30 high. Moving average studies are in a bull mode condition, and the focus is now on 146.38, a Fibonacci projection. Above here, the notable target levels are 146.59, the Nov 10 2022 high, and 147.49, a Fibonacci projection level.

To read the full story

Close

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.