Concerns about tariffs...
The USDJPY has moved below the swing/break area from yesterday at the 111.54-59 area. That weakens the bull run from yesterday and now has traders thinking the 50% at 111.36 and the 100 hour MA at 111.32 might be tested (blue line in the chart below). The 200 hour MA is another target at 111.241 currently (green line)
The FOMC was as expected but also near the announcement was chatter that the Trump would propose 25% tariffs on $200B of Chinese goods. The WH said a statement would be released at 3:30 PM ET. Trump also said that he is open for a government shutdown too.
Stocks - including the Nasdaq - did dip into the red, but the Nasdaq is back up about 21 points. The 10 year yield is back below the 3.00% level after moving to 3.0139% earlier. It is at 2.987% currently.
Markets have become a little unsettled with all the news. Do you think President Trump might complete the Triple Crown by chastising the Fed for tightening?
