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EUR/JPY consolidated ahead of Fed decision

FXStreet (Guatemala) - EUR/JPY is currently trading at 136.75 with a high of 137.09 and a low of 136.06.

EUR/JPY has been trading in a tight range as markets sit back and wait for the FOMC outcome today. The cross rallied yesterday and has been better bid on the week while investors moved out of the Yen on the back of Japan's recent downgrade by S&P ratings. The stock markets have been mostly positive during the week also on a better risk environment in general. The Nikkei 225 closed up 1.43% today.

EUR/JPY levels

Technically, the cross has turned slightly negative and is penetrating the 20 SMA on the hourly chart at 136.79. MACD on the same time frame is also turning more negative. To the downside, 136.60/40 guards 136.00 and location of the 200 SMA at 136.08. Then, 134.80 guards 133.10 and 131.80 further out.

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