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Commodity currencies under pressure today

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Ahead of the FOMC Wednesday, we would have expected a more sedate trading session, but there were plenty of movers, headlined but the overnight event risk from the BoJ meeting. The unchanged policy gave the JPY a bid across the board, with USD/JPY falling away through the 113.00’s and into the high to mid 112.00’s. Recent 112.61 lows were matched, but a tentative recovery since in place. However, much attention was on GBP, with the market aggressively hitting Cable into the mid 1.4100’s after

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