While the stock market may be disappointed with Fed Twist, the authorities in Japan are probably relived. The Japanese yen had been approaching all time highs against the dollar in recent days. USD/JPY now rises, as the dollar rises across the board and moves away from the intervention zone. Each time the pair got too close to 76, comments about “watching excessive foreign exchange moves” were heard by Japanese officials. The safe haven status is a big burden on Japan’s export oriented economy. One of the “non decisions” made by Bernanke and his colleagues was to refrain from lowering the interest rate on excessive reserves parked by banks at the Federal Reserve. If they would have lowered it to “Japanese levels”, more money would have shifted from the US to Japan. In addition, the wide “Operation Twist” in a scale of $400 billion, eases the pressure on short terms yields in the US. Both the action and the inaction by the Fed support a stronger USD/JPY. Dollar/yen is at 76.60, still not far from 76, but with the limited movements of this pair, this is significant. Resistance is at 77. For more on the yen, see the dollar yen forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next AUD/USD Nears Parity After Bernanke’s Blow Yohay Elam 11 years While the stock market may be disappointed with Fed Twist, the authorities in Japan are probably relived. The Japanese yen had been approaching all time highs against the dollar in recent days. USD/JPY now rises, as the dollar rises across the board and moves away from the intervention zone. Each time the pair got too close to 76, comments about "watching excessive foreign exchange moves" were heard by Japanese officials. The safe haven status is a big burden on Japan's export oriented economy. One of the "non decisions" made by Bernanke and his colleagues was to refrain from lowering the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.