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19 Jun 2013
USD/JPY clings to 95.00
FXstreet.com (Córdoba) - The USD/JPY has barely moved along the day as investors refrain from taking positions ahead of the Federal Reserve announcement.
What to expect after Fed
While most analysts don't expect the Fed to taper its stimulus program quite yet, they agree Bernanke language will be crucial for market reaction. "FED could rock the pair over 100 pips in a blink: risk remains way too high ahead of the news, particularly in this pair", says Valeria Bednarik, chief analyst at FXstreet.com. "Above 95.80, yesterday's high, the pair has scope to extend its advance up to 96.20/30 in the short term".
At time of writing, USD/JPY is trading virtually unchanged on the day at the 95.15 zone, having briefly dropped below 95.00 during the European session.
What to expect after Fed
While most analysts don't expect the Fed to taper its stimulus program quite yet, they agree Bernanke language will be crucial for market reaction. "FED could rock the pair over 100 pips in a blink: risk remains way too high ahead of the news, particularly in this pair", says Valeria Bednarik, chief analyst at FXstreet.com. "Above 95.80, yesterday's high, the pair has scope to extend its advance up to 96.20/30 in the short term".
At time of writing, USD/JPY is trading virtually unchanged on the day at the 95.15 zone, having briefly dropped below 95.00 during the European session.