USD/JPY rejected from above 103.00 after FOMC statement

By FXstreet.com | July 30, 2014 AAA

FXStreet (Córdoba) - The USD/JPY rose to 103.08 after the release of the FOMC statement, reaching levels not seen since April, but then retreated and trimmed gains, pulling back below 103.00. Currently trades at 102.80, up 0.70%.



Market is still analysing the FOMC statement. The Federal Reserve, as expected announced another cut in the purchase program. The US dollar initially rose but then retreated, but is still positive for the day across the board.



USD/JPY first attempt on 103.00

Price action rose above 103.00 for the first time since May. Like it happen then, failed to hold and pulled back. Despite the recent retreated momentum still favors the US dollar but some technical indicators are showing overbought levels.



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