Yen gains versus US dollar after Fed’s meeting. US central bank delivers dovish message. Fed’s Powell to deliver press conference at 18:30 GMT. The USD/JPY pair lost more than 50 pips in the minutes after the Federal Reserve released its statement, the summary of economic projections and an announcement regarding the balance sheet. The US dollar tumbled in the market while the yen also weakened amid a rebound in equity prices. The 10-year yield fell to 2.56%,the lowest since early January adding pressure to the USD/JPY. The pair fell from 111.50 to 110.81, reaching the lowest level since March 8. It was under pressure as traders now await Jerome Powell’s press conference. The Fed kept interest rate unchanged as expected and announced the balance sheet reduction program will end in September. The FOMC staff signaled no rate hikes for the rest of the year and downgraded growth forecasts. USD/JPY Technical levels On the downside, support levels might be seen at 110.75 (Mar 8 low), 110.45 and 110.15. On the upside, resistance now could be located at 111.00 (Mar 13 low), 111.35 and 111.50. 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 Jerome Powell speech: Overarching goal is to sustain the expansion FX Street 4 years Yen gains versus US dollar after Fed's meeting. US central bank delivers dovish message. Fed's Powell to deliver press conference at 18:30 GMT. The USD/JPY pair lost more than 50 pips in the minutes after the Federal Reserve released its statement, the summary of economic projections and an announcement regarding the balance sheet. The US dollar tumbled in the market while the yen also weakened amid a rebound in equity prices. The 10-year yield fell to 2.56%,the lowest since early January adding pressure to the USD/JPY. The pair fell from 111.50 to 110.81, reaching 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.
