USD/JPY remains under 105.00 after the FOMC rate decision and announcements. The price yo-yo’d in a 20 pip range and it’s on to the press conference now. Fundamental backdrop – nothing unexpected from the Fed The US Federal Reserve seeks to achieve maximum employment, inflation at 2% over the long run and says economic path depends on the course of the coronavirus outbreak. This was already known before today’s meeting as Fed Chair Jerome Powell stated this at the Jackson Hole meeting. They went on to say “until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.”. Lastly, the dot plot now suggests the Fed may not raise rates until 2023. This could be slightly longer than some analysts had been expected but it could be consistent with when the Fed sees employment levels recovering. USD/JPY 1-hour chart USD/JPY has barely moved after the FOMC rate decision and policy announcement. The price went to test the previous wave low but then popped back up almost instantly. If anything the pressure seems to be on the downside as the Fed announced they may wait further than some analysts had been expecting to raise rates. Both the indicators are still bearish as the MACD histogram is below zero and the Relative Strength Index is in an oversold position. Now we must keep an eye on these levels heading into the press conference as maybe something will be said there to inspire some volatility. Additional levels 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 Powell speech: Household spending looks to have recovered about 75% of its decline FX Street 2 years USD/JPY remains under 105.00 after the FOMC rate decision and announcements. The price yo-yo'd in a 20 pip range and it's on to the press conference now. Fundamental backdrop - nothing unexpected from the Fed The US Federal Reserve seeks to achieve maximum employment, inflation at 2% over the long run and says economic path depends on the course of the coronavirus outbreak. This was already known before today's meeting as Fed Chair Jerome Powell stated this at the Jackson Hole meeting. They went on to say "until labor market conditions have reached levels consistent with the Committee's assessments of… 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.