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
- Dec, 01 18:50 GMTBullish Commodity FX as Ichimoku Support Holds & Sentiment Deepens
- Nov, 25 19:10 GMTLooking to sell a failure in USD/CAD
- Nov, 24 13:30 GMTBearish AUDJPY as Topping Pattern Matures, Awaiting Key Support Break
- Nov, 23 15:25 GMTOil Traders Prepare for a Breakout on WTI Consolidation
- Nov, 21 01:15 GMTAnalyst Pick: EUR/JPY Well-Positioned for a Rough End-of-Year