Good strength on the Yen

The Yen has strengthen today during the whole trading session, but especially during the FED’s announcement. The FED has not given a clear signal to the markets and that has created a lot of uncertainty among traders and investors. That uncertainty has created risk aversion and since the Yen is used as a safe haven instrument, it rises. On the daily chart of the USD/JPY we can see that today’s breakout was bearish and the price came very close to the 100.00 support level. The Bank of Japan has been taking a lot of care around the 100.00 zone, intervening at times to prevent the Yen from going higher. To the upside, the 102.00 level or the 103.00 level could act as resistance.