USD/JPY steady near 151.00 as markets chew on Fed rate hold

The USD/JPY is treading water near 151.00 as Fed holds rates, as expected.
Only minor changes in Fed statement leaves investors strung along the middle.
Markets set to turn towards Friday's US NFP.

Joshua Gibson FXStreet

The USD/JPY is holding steady near the 151.00 handle as the Federal Reserve (Fed) holds rates at 5.25-5.5%, as markets broadly expected, but a lack of significant changes in the Fed's rate statement leaves investors unsure of an additional rate hike in December to close out the year.

Fed leaves interest rate unchanged at 5.25%-5.5% as forecast

The Fed's statement noted a firmer pace of economic expansion, but a moderation in jobs gains for the US.

Inflation remains elevated, and the unemployment rate remains low, but the Fed dropped few flags indicating one last rate hike for the year and the US Dollar (USD) is trading into the midpoint of Wednesday's chart moves.

Fed Statement comparison: November vs September

USD/JPY Technical Outlook

The Dollar-Yen pairing is ever-so-slightly down from yesterday's twelve-month high of 151.72 after catching a bounce from a rising trendline etched in from July's low closes near 138.00.

The USD/JPY continues to catch bids from the 21-day Exponential Moving Average (EMA) currently lifting into 150.00, and medium-term support is baking in from the 50-day Simple Moving Average (SMA) near 148.50.

USD/JPY Daily Chart

USD/JPY Technical Levels

USD/JPY

Overview
Today last price	151.1
Today Daily Change	-0.57
Today Daily Change %	-0.38
Today daily open	151.67

Trends
Daily SMA20	149.62
Daily SMA50	148.36
Daily SMA100	145.47
Daily SMA200	140.08

Levels
Previous Daily High	151.72
Previous Daily Low	149.03
Previous Weekly High	150.78
Previous Weekly Low	149.32
Previous Monthly High	151.72
Previous Monthly Low	147.32
Daily Fibonacci 38.2%	150.69
Daily Fibonacci 61.8%	150.06
Daily Pivot Point S1	149.89
Daily Pivot Point S2	148.11
Daily Pivot Point S3	147.19
Daily Pivot Point R1	152.59
Daily Pivot Point R2	153.5
Daily Pivot Point R3	155.28

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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