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Forex pairs in this Article » USD/JPY (Córdoba) - USD/JPY continues to consolidate in a tight range during the New York session as FX market remains in a phase of stagnation ahead of the FOMC meeting.

USD/JPY has barely moved over the last hours, oscillating within 94.60 and 95.00 unable to pick up momentum either side of the board. At time of writing, the pair is trading at the 94.90 area, where it records a 0.8% gain on the day.

USD/JPY likely to remain in a range

In the absence of major headlines or events, the pair will likely remain subdued. However, if USD/JPY breaks decisively above 95.10 it could rise towards 95.35 (100-hour SMA) and then to 95.80 (Jun 14 high). On the other hand, supports are seen at 94.00 (psychological level) and 93.80 (Jun 13 low).
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