USD trading in slim range versus JPY in Forex market
3/15/2017 9:18:03 AM
During Forex market activities, the USD/JPY pair expanded its integrative price-action within a slim trading band below the key 115.05 mark as investors wait for the outcome of highly predicted FOMC meeting.
Instant support is fixed near mid-114.03s, below which the pair is probable to speed up the slide towards 45-day SMA support near the 113.98 handle ahead of 113.66 horizontal support.
On the upside, bulls would be eyeing for a move above the 115.05 handle, which if conquered has the probable to boost the pair beyond mid-115.05s towards 115.83 persistence before targeting to reclaim 115.88 round figure mark.
FOREX market analysis by FxErvin.