More dovish Fed
The FOMC statement was more dovish and the dollar has moved a bit lower as a result of the statement and lower rate expectations going forward.
The EURUSD moved up toward the 200 bar MA on the 4-hour chart at 1.1299. The 50% of the move down from the June 9th high comes in at 1.13016. The high price got to 1.1297. The price is back down off that high but is looking to hold the 1.12608 level That is the 100 hour MA.
For the USDJPY the low for the year at 105.54 has held support. That level needs to be broken but remember, the BOJ is later in the new trading day. The low 105.57. There is other support at 105.44 and then at 105.17. Those are the swing lows and highs going back to December 2013 (see chart below).
Yellen up next.
