I was expecting today's FOMC outcome to be supportive of USDJPY. Although the outcome proved to be largely as expected, the market's reaction left a lot to be desired. I still see scope for US Dollar upside however as traders digest the outing and will look for confirmation on a daily close above 81.60 to enter long, initially targeting 83.71.
USDJPY: Long Trade Confirmation Pending
- May, 22 12:15 GMTCrude Nearing Key Pivot
- May, 15 12:30 GMTMore USD Patterns
- May, 14 10:14 GMTUSD remains pressured
- May, 13 18:40 GMTEUR/GBP Holds Near-Term Support, Retains Bullish RSI Momentum
- May, 13 14:45 GMTDaily Observations: Long GBP-crosses are Appealing