CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

USD/JPY hunting for 105.50 on FOMC-led notable USD supply

2018-3-22 11:11:27Market Analysis
USD/JPY hunting for 105.50 on FOMC-led notable USD supply

The Greenback tripped over itself against the Yen in the overnight session, dropping to 105.58 before edging back slightly to 105.70.


Risk aversion has broken back into the broader market and the USD/JPY is dropping lower following the big Aussie employment miss and the Japanese Nikkei Manufacturing PMI dropping to a five-month low of 53.2.


The US Dollar is slipping further following the FOMC's rate hike today that saw the committee leave their 'dot plot' unchanged at three rate hikes for 2018, and markets have responded by shorting the Greenback out of its recent gains.


USD/JPY Levels to watch


This drop sees the pair price in new resistance at Wednesday's low of 105.88 and the 50-hour MA at 106.20, with restistance thinning at February's low of 105.55and March's low of 105.25.