- USD/JPY holds near 151.00 as the Fed keeps rates unchanged, as expected.
- Only minor changes in the Fed statement leave investors halfway.
- Markets prepare for Friday’s US NFP.
USD/JPY remains stable near the 151.00 zone as the Federal Reserve (Fed) keeps rates at 5.25-5.5%, as markets generally expected, but the lack of significant changes in the rate statement The Fed leaves investors uncertain of a further rate hike in December to close out the year.
The Fed keeps the interest rate at 5.5% for the second consecutive meeting
The Fed’s statement signals a firmer pace of economic expansion, but a moderation in employment growth in the United States.
Inflation remains high and the unemployment rate remains low, but the Fed dropped some flags indicating a final rate hike for the year and the US Dollar (USD) is trading at the midpoint of Wednesday’s chart moves.
USD/JPY Technical Outlook
The USD/JPY pair is slightly below the twelve-month high reached yesterday at 151.72, after bouncing off the uptrend line that marked the July low, which closed near 138.00.
USD/JPY continues to receive bids from the 21-day EMA currently rising to 150.00, and medium-term support lies at the 50-day SMA near 148.50.
USD/JPY Daily Chart
USD/JPY technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
