Currency Analyst since 2010

USD/JPY: daily update

USD/JPY hit a fresh 1-month low at 97.58 before returning above 98.00. US dollar touched 98.50 on better-than-expected US GDP growth.

The pair remains inside the daily Ichimoku Cloud with top at 98.75 and bottom at 97.50. The picture is mixed and the fate of the pair will depend on to which direction US dollar will break the Cloud. Further resistance lies at 99.25, 99.70 and 100.18, while support is at 96.75 and 95.60.

OCBC Bank: “Tonight, if the FOMC fails to surprise on the hawkish end, the pair may lose its foothold at 98.00 and slide to 97.50/60 before 97.00.”

Chart. Daily USD/JPY

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