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29 Jul 2015
USD/JPY approaches 124.00; Fed decision eyed
FXStreet (Córdoba) - Greenback pulled back in the market during the last hours, but versus the yen extended gains as US government bond yields rise. USD/JPY broke above 123.80 and rose to 123.90 reaching the strongest level since last Friday.
In two hours, at 18:00 GMT the Federal Reserve will announce its decision on monetary policy. No change is expected in rates but investors will analyze the statement looking for clues about when the central bank could rise rates.
Greenback is showing mix results in the market, while the yen is among the worst performers. Stocks in the US are higher ahead of the Fed statement.
USD/JPY levels to watch
To the upside, the pair could face resistance at 124.00 and above here at 124.15/20 (July 22, 23 highs) and then 124.45/50 (July highs). On the opposite direction, immediate support could be seen at 123.70/75 (intraday level), 123.50 and 123.30 (daily low).
Trade the Fed FOMC meeting with Bednarik and Carrillo - Live Coverage
In two hours, at 18:00 GMT the Federal Reserve will announce its decision on monetary policy. No change is expected in rates but investors will analyze the statement looking for clues about when the central bank could rise rates.
Greenback is showing mix results in the market, while the yen is among the worst performers. Stocks in the US are higher ahead of the Fed statement.
USD/JPY levels to watch
To the upside, the pair could face resistance at 124.00 and above here at 124.15/20 (July 22, 23 highs) and then 124.45/50 (July highs). On the opposite direction, immediate support could be seen at 123.70/75 (intraday level), 123.50 and 123.30 (daily low).
Trade the Fed FOMC meeting with Bednarik and Carrillo - Live Coverage