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Forex: How Reliable is That USDJPY, AUDUSD Tech Pattern with FOMC?

Forex: How Reliable is That USDJPY, AUDUSD Tech Pattern with FOMC?

John Kicklighter, Chief Strategist

Talking Points:

• The FOMC decision will be more complicated than a Taper or No Taper outcome

• Scope for market impact from this important indicator is how it affects 'risk'

• Attractive EURUSD, GBPUSD, AUDUSD and USDJPY technical patterns may prove sirens

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For many, the last hope for volatility in a fading liquidity backdrop stands directly before us: the FOMC rate decision. Yet, little can change that natural decline in participation; and that means those preparing for the start of substantial trends may be drawn into trades that never catch the proper traction. The tipping point is whether the Fed decision can trigger a meaningful risk response. We discuss the alluring technical setups from pairs like EURUSD, GBPUSD, USDJPY and AUDUSD; the implications of key fundamental event risk in the Fed decision; and the critical market condition schism in fading liquidity in today's Trading Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.