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USDJPY under pressure due to dovish FED

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Yesterday dovish FED turned to be very bearish for USDJPY pair. There was some minor retracement during Asian market which is not a surprise as USDJPY moves in good correlation with Nikkei index (JP225). What usually happens to Nikkei is that the Yen appreciates first (risk-off), and then next day Nikkei gets hammered because Yen is more expensive, it effects their export/manufacturing sector in the Nikkei. USDJPY is currently consolidating and currently it is waiting for ADP release. The

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