Approaches the 100 and 200 hour MAs
The USDJPY is moving to new NY session highs just ahead of the FOMC meeting minutes. The pair is approaching the 100 hour MA at 112.593 and the 200 hour MA at 112.663. Yesterday, there was a move above both those MA levels but the break failed and the price moved below a floor at 112.208-316. Today, that same floor was broken and for the 2nd day in a row failed. It remains a bullish above/bearish below barometer for traders into the meeting minutes.
In other markets:
- S&P is up 1.22 points
- Nasdaq is up 5.94 points
- 2 year yield is 1.5206% up 0.8 bp
- 10 year yield is 2.3481%, down -1.2 bp
- Spot gold is at $1285.22
