Japanese Yen Surges Following Fed Decision

In the Asia session, following the Fed's decision, the Japanese yen strengthened sharply, giving the impression that the authorities re-intervened in the currency. During low trading periods, the Japanese yen surged by approximately 3% against the dollar, reaching 153 for USD/JPY. After the Asian trading session commenced, the yen's gains were reversed, and USD/JPY rebounded above the 156 level.

It is a technical fact that selling pressure persists below the 154.37 level (21-daily simple moving average). The previous psychological support level of 152.00 will come into focus afterward. For those looking to buy, the next target is 156.30. Once we break through this level, 157.50 will become a resistance level.