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29 Oct 2014
USD/JPY aims to 108.80 on Fed
FXStreet (Edinburgh) - The decision of the Fed to end QE3 is giving extra wing to USD/JPY, climbing to fresh highs in the vicinity of 108.80.
USD/JPY boosted by the FOMC
Spot is responding with a considerable up move after the Committee ended the 2-year bond-buying programme in the US economy. In line with market expectations, the Fed took the pace of Treasuries purchases to $0 billion from $10 billion and to $0 billion from $5 billion in Mortgage Backed Securities (MBS). The pair is now printing fresh multi-day highs in the 108.80/90 band, closer to 109.00 the figure.
USD/JPY levels to consider
The pair is now up 0.555 at 108.76 with the next resistance at 109.08 (76.4% of 110.09-105.20). On the downside, a break below 107.64 (Kijun Sen) would expose 107.61 (low Oct.27).
USD/JPY boosted by the FOMC
Spot is responding with a considerable up move after the Committee ended the 2-year bond-buying programme in the US economy. In line with market expectations, the Fed took the pace of Treasuries purchases to $0 billion from $10 billion and to $0 billion from $5 billion in Mortgage Backed Securities (MBS). The pair is now printing fresh multi-day highs in the 108.80/90 band, closer to 109.00 the figure.
USD/JPY levels to consider
The pair is now up 0.555 at 108.76 with the next resistance at 109.08 (76.4% of 110.09-105.20). On the downside, a break below 107.64 (Kijun Sen) would expose 107.61 (low Oct.27).