FOMC rate announcement is a key macro event of the day. US central bank will announce its decision at 7:00 pm GMT and Powell's press conference will follow at 7:30 pm GMT. It is highly unlikely that the Reserve will change settings of the monetary policy therefore all the attention will be on guidance. Will Fed give a hint on conditions that will prompt it to taper QE? Recent comments from Fed speakers on the topic were mixed. Traders should keep in mind that volatility on the USD market may be elevated during the press conference. USDJPY will be one of the FX pairs on watch as it continues to trade at the upper limit of the downward channel. Two support levels to watch in case of a pullback can be found at 103.15 and 102.60 while the lower limit of the channel runs near 101.50 area.
Source: xStation5
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