18 Jun 2014
USD/JPY advances slightly, all eyes on Fed
FXStreet (Córdoba) - The USD/JPY edged a tad higher Wednesday building up on yesterday’s gains, underpinned by solid inflation numbers and as investors await the FOMC meeting later on the day.
The USD/JPY firmed to a fresh 1-week high of 102.29 before losing momentum and entering a phase of consolidation. Investors will probably remain sidelined in anticipation to Fed decision. The US Fed's 2-day policy meeting concludes with a statement at 18:00 GMT, followed by a press conference with Chair Janet Yellen.
USD/JPY technical levels
At time of writing, the USD/JPY is trading at the 102.27, recording a 0.12% gain, with immediate resistances lining up 102.38 (Jun 11 high) and 102.56 (Jun 10 high). On the flip side, supports are seen at 101.80 (Jun 17 low), 101.60 (Jun 12 low) and 101.54 (200-day SMA).
The USD/JPY firmed to a fresh 1-week high of 102.29 before losing momentum and entering a phase of consolidation. Investors will probably remain sidelined in anticipation to Fed decision. The US Fed's 2-day policy meeting concludes with a statement at 18:00 GMT, followed by a press conference with Chair Janet Yellen.
USD/JPY technical levels
At time of writing, the USD/JPY is trading at the 102.27, recording a 0.12% gain, with immediate resistances lining up 102.38 (Jun 11 high) and 102.56 (Jun 10 high). On the flip side, supports are seen at 101.80 (Jun 17 low), 101.60 (Jun 12 low) and 101.54 (200-day SMA).