Here is an hourly chart of the Euro - US Dollar pair. I last commented on this market yesterday.
The Fed's announcement of a 25 basis point rate increase which came about 30 minutes ago has made the market think that the Fed "pause" is imminent. Consequently there has been a big rally in the Euro-USD and a big break in the USD-Yen.
The rally in the Euro-USD has brought the market to the 126.50 resistance level I was watching in yesterday's guesstimate. I think the market is about to halt near here and resume its drop.
The yen had gone about 50 pips lower than the 125.50 support level I was watching but I think it will hold the 115.00 level and resume its upmove.
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