OctaFX | OctaFX Forex Broker
Open trading account

AUD/JPY loses upside on risk-off

FXStreet (Guatemala) - AUD/JPY has dropped after an initial bid pre and post the Fed's decision to hold off from hiking interest rates too soon while the environment is not appropriate.

AUD/JPY was moving higher from the lows of sideways channel at 86.30/40 and eventually made a high of 87.51. However, the Yen was in demand as equities sold off and AUD/JPY eventually got sucked in while the Aussie started to give back some gains made post the release.


The Fed left rates unchanged and 13 officials wanted a rate hike in 2015 which was down from 15 officials of previous meeting. The concerns of the global uncertainties are one aspect of why the FOMC decided it was too early, while the 2% target may be jeopardised and they wish to see further improvements in the labour market. Technically, the downside has been opened below the 50 SMA on the hourly at 86.40 although remains in neutral territory above the 20 DMA at 85.27.

USD/CAD erases losses as dollar rallies against commodity currencies

USD/CAD managed to climb back to the level it had before the FOMC statement. The pair bottomed at 1.3070 during Yellen’s press conference, reaching the lowest since August 21, but then rebounded sharply and rose back above 1.3170.
Read more Previous

EUR/USD: rockets to through 1.1400 post Fed - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the US Federal Reserve decided to remain on hold in its September meeting, triggering a USD sell-off all across the board.
Read more Next
Start livechat