USDJPY moves to unchanged on the day

Technical Analysis

Author: Greg Michalowski | usdjpy

Moves higher after FOMC

The USDJPY has moved to new NY session highs and also moved to unchanged on the day at 117.73.  The market is having a little apprehension at being unchanged after being negative for most of the day.


On the headlines from the FOMC, the USDJPY initially fell. The price moved below the 200 (at 117.33) and the 100 hour MA (at 117.19) but quickly rebounded. The price action has pushed back higher and moved above the 50% of the days range in the process.   Turning positive is the next hurdle technically.  

Watch the 50% level now for support (at 117.61). Stay above and perhaps there is more upside before now and the close.  Helping the cause would be if the stocks can continue to extend. The S&P moved to new session highs at 2272, but is coming off those highs a bit (trades at 2269.65 currently). The low was down at 2261.60 today. 
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