In anticipation of the FOMC rate decision, USDJPY surpassed the 150.00 mark, peaking at 150.142 before retreating to 149.92. It tested a critical swing area between 150.11 and 150.288, which has served as support and resistance since February.
If the price maintains above this zone, attention may shift towards the 38.2% retracement level of 151.239, where upward movement previously halted. Additional challenges for upward progression are presented by the resistance at 151.199–151.34.
Key Support And Resistance Levels
Conversely, if sellers defend the 150.288 mark, the initial target for downside movement would be 149.20, with further support at a rising 100-hour moving average of 148.96. This moving average has proven important, offering considerable support recently.
To summarise the key levels: resistance lies at 150.11–150.288, 151.199–151.34, and 151.239, while support levels are identified at 149.20 and 148.96. Breaching 150.288 would strengthen bullish momentum toward 151.239, while failing to maintain above 150.00 may lead to further declines.
This passage provides a structured breakdown of how the USDJPY pair is behaving in relation to a key Federal Reserve announcement. The currency pair briefly edged above 150.00 before slipping back under, indicating that traders tested an important level but lacked the momentum to sustain upside movement. The area between 150.11 and 150.288 has historically acted as a turning point, functioning as both a floor and a ceiling depending on market conditions. If price action stays above this region, the next test would be around 151.239, where past upward momentum stalled. However, resistance just below that at 151.199–151.34 could present obstacles before the pair sees further advances.
Market Positioning Ahead
From the other side, if sellers manage to keep the price from breaching 150.288, the first area to watch below is 149.20. Beneath that, attention would turn to 148.96, where the 100-hour moving average is rising. This particular moving average has been instrumental in preventing deeper declines, meaning any break lower could indicate a shift in control.
At this stage, it comes down to how market participants position themselves ahead of the Federal Reserve’s statement. If this area above 150.00 continues holding, upside movement could gain traction. However, should sellers take command and force a break lower, the focus would shift towards protection levels beneath. Every move above or below these points offers traders an indication of who is exerting greater influence and where the momentum could carry next.
For those navigating these conditions, 150.288 stands as a dividing line. A move beyond strengthens momentum towards 151.239, whereas failure to hold above 150.00 raises the likelihood of declines. These levels outline a structured approach, defining what to anticipate depending on market direction.
