USD/JPY Strengthens Post-Fed Meeting: Can the Momentum Last?
USD/JPY surged following the latest Federal Reserve meeting, gaining strength above the 154.20 resistance level. The pair not only moved past the 100 and 200 simple moving averages but also cleared the 76.4% Fibonacci retracement level from the downward trend. This bullish positioning raises questions about the sustainability of the rally. Market participants are weighing potential scenarios amidst ongoing economic assessments. As trading dynamics evolve, the key focus remains on whether the pair can maintain its upward trajectory or if corrections are on the horizon.
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