The US Fed will conclude its last meeting of 2019 today and expectations call for no change in interest rates, especially following Friday’s strong NFP report. The CPI report will also be closely watched as annualized core inflation is running above the central bank’s 2.0% target. The USDJPY has moved lower over the past few trading sessions, how will today’s post-FOMC press conference impact this currency pair? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.

The Japanese BSI Large All Industry Index and the BSI All Large Industry Index showed a sharp contraction for the fourth quarter. This was the latest economic data set pointing towards a weak global economy. The Japanese Yen came under selling pressure and pushed the USDJPY to the upper band of its resistance area. What impact will US data and the FOMC have on price action later in today’s trading session? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.