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USDJPY Initially Dips 30 Pips On Fed Statement Release, Paring Losses

USD
  • Initial moves following the Fed release sees some moderate pressure on the greenback with USDJPY falling 30 pips or so to 151.26, although this move has largely been pared over the past few minutes, potentially on the back of the much stronger growth profile than previously expected and lower unemployment rates.
  • A further reversal would naturally return the focus to the multi-decade inflection point at 151.91-95. Clearance of this resistance would confirm a resumption of the long-term uptrend. A break would open 152.66, a Fibonacci projection.
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