USD/JPY has absorbed very significant offers in the 97.40 area and has triggered stops after retaking the 97.55/60 area, rallying as high at 97.97 after the Fed refrained from announcing any fresh purchases of bonds, sticking to the program announced in March totaling $1.1 trln.10-year note yields jumped to 3.09%, higher than when the Fed began its QE program.
98.16 is next resistance for USD/JPY which trades now at 97.82. Barriers are rumored at 98.00.
