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USD/JPY drifts back from rise to 143.95
Well, if it is price action you wanted, then you certainly have gotten that in the USD/JPY over the past 12 hours. This was very much anticipated here ahead of the Fed decision and it has not disappointed. The USD/JPY was trading just above 142 when the Fed delivered a 0.50% rate cut. That news sent it down to a low at 140.44, before a later rebound set in ahead of the US close. The dollar closed in the US last night at 142.29 and in the process reversed all the earlier Fed led losses. The rebound surely surprised many traders and the reversal back above the pre-Fed levels led the dollar to a high at 143.95 earlier today. That high also led the dollar above the prior noted 21 day moving average (in place now at 143.62). The dollar has backed off from that high now though and a short while ago it had a look below the 143 handle. There will be much more to add on all this as the day unfolds. The USD/JPY is currently trading at 143.07
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