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Forex technical analysis: USDJPY stays in the grips of the tech levels after Fed hike

Trades the technical levels after FOMC decision.

The USDJPY stayed contained between support below and resistance above pre-FOMC and after FOMC. The low today held the 100 and 200 day and 38.2% on the downside. The topside spike higher stalled at the upper end of what was the old floor area going back to November (see yellow are in chart below). That area comes between 122.20-29 and the high reached 122.286. Right to the limit. We now trade in between as the market awaits Yellens comments. The extreme traders against the inside support/resistance levels are the winners but you had to be quick with a conviction.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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