USD/JPY is trading around the 105.00 figure as the dollar remains the weakest ahead of the US Federal Reserve announcement later today and the preliminary estimate of Q2 GDP on Thursday. The pair could extend the decline towards 104.40 after reaching a fresh 4-month low at 104.76, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Japan didn’t release macroeconomic data while the US will publish the June Goods Trade Balance and Pending Home sales for the same month. The focus, however, will be the US Federal Reserve decision on monetary policy. US policymakers are expected to maintain the current policy unchanged, although Powell’s speech could shed some light over future developments.” “The 4-hour chart shows that the Momentum indicator recovers within negative levels, while the RSI indicator consolidates around 30. The 20 SMA maintains its strong bearish slope above the current level, currently around 105.45.” “Renewed selling pressure below 104.90 should expose the 104.40 region, a strong static support level.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY clings to daily gains above 123.00 ahead of FOMC FX Street 3 years USD/JPY is trading around the 105.00 figure as the dollar remains the weakest ahead of the US Federal Reserve announcement later today and the preliminary estimate of Q2 GDP on Thursday. The pair could extend the decline towards 104.40 after reaching a fresh 4-month low at 104.76, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Japan didn’t release macroeconomic data while the US will publish the June Goods Trade Balance and Pending Home sales for the same month. The focus, however, will be the US Federal Reserve decision on monetary policy. US policymakers are expected to maintain the current policy… 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.
