USD/JPY Current price: 123.69
View Live Chart for the USD/JPY
It´s all about the FED for the USD/JPY. The USD/JPY pair maintains its neutral stance ahead of the US opening, waiting for the FOMC. Before it, the US will release the Pending Home Sales for June, which may have a limited effect in the market. However, the housing sector has been among the worst performers this month, and another tepid reading may put the greenback under pressure. As for the USD/JPY, the pair continues trading in a well-defined range, with a mild positive short term tone as the 1 hour chart shows that the technical indicators hold above their mid-lines, whilst the price stands now above its 100 SMA. In the 4 hours chart, the price held above its moving averages on an early dip, whilst the technical indicators head north in positive territory. Nevertheless, it's about the FED today, with scope to advance up to 124.45 should the US Central Bank delivers a hawkish statement.
Support levels: 123.30 122.90 122.40
Resistance levels: 124.20 124.45 124.90
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