USD/JPY – H4
The US Federal Reserve did not move on rates and kept them unchanged near zero, but Chairman Powell said that lift-off could come as early as March and that there is "quite a bit of room to raise interest rates without hurting the labor market". 
The central bank telegraphed that the asset purchase program will end in early March, but did not offer a hard date on when it will begin reducing the balance sheet.
Markets are now even more aggressive in their tightening expectation, seeing up to five rate hikes this year, as per CME's Fed WatchTool. 
The pair rises further today and is on course for its best week since October, pausing the declines over the past two weeks.
It now eyes 115.52, which will bring the multiyear highs in its crosshairs (116.35), but it may still be early for such a move.
On the other hand, US Yields are mixed after yesterday's boost and the Relative Strength Index is at overbought territory. As such pressure back towards the EMA200 (mid-114.00s) cannot be ruled out, but a bigger decline has a higher degree of difficulty under these conditions.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
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