Intra-Day News and Views & data to be released today - USD/JPY
|Intra-Day Market MovingNews and Views
Update Time: 20 Mar 2019 03:00GMT
USD/JPY - 111.60... Despite yesterday's drop to 111.16, price erased its losses and gained to 111.48 in New York morning before retreating again to 111.25 at New York midday. However, dollar found renewed buying there and price jumped at Tokyo open today on broad-based cross-selling in jpy to session highs 111.68 in Asian morning and continues to trade with a firm bias.
Intra-day rise to 111.68 signals decline from last Friday's high at 111.90 has ended at 111.16 yesterday, suggesting consolidation with upside bias remains.
Bids are now seen at 111.30/40 and more below at 111.10/20 with stops building up below there.
Market focus is on today's FOMC decision at 18:00GMT and although it is widely expected the central bank will keep its rate unchanged, traders should pay particular attention to Chairman Powell's press conference at 18:30GMT and his tone in regards to the rate path the central bank will undertake this year.
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