Seeing mixed reaction with a risk on twist
The EURUSD has seen the price move lower and then back higher on the first reactions off the statement (lower dollar). .
The USDJPY moved lower and then higher (higher USD).
The GBPUSD is also moving higher and moves to new session highs as I type. It is making the most pronounced move of the three major pairs. (lower USD)
There is a run higher in the JPY crosses as a result. Stocks are higher and may be leading to a risk on trade (higher EURJPY and GBPJPY).
That is the first reactions from a price action standpoint.
The EURUSD is above its 100 hour MA at 1.22947 now. The 200 hour MA at 1.23219 is the next target (green line). A move above would open up for more upside potential. The 100 hour is a risk level now.
The USDJPY has whipped below the 100 hour MA on the news, and then moved back above the 200 hour MA above at 106.323. The buyers are trying to take the pair higher but the whip is more evident in this price action and technical picture. Between the MAs is a Neutral Area where the market can whip around.
The GBPUSD has had the most prononced move with a break above the 1.40879 high and running higher toward the topside trend line at 1.4139…The 1.40879 is now a risk level for the longs.