<p>The video above takes a detailed look of the 3 major currency pairs - the EURUSD, USDJPY and GBPUSD from a technical perspective. </p><p>On Wednesday, the Fed kept rates unchanged, but the decision revealed a notable divide beneath the surface. There were four dissenters in what was likely Powell’s final meeting as Chair.</p><ul><li>Hammack, Logan, and Kashkari pushed back on the easing bias, citing ongoing inflation risks. </li><li>Miran, the most recent Trump nominee, dissented in favor of a rate cut, reinforcing his more dovish stance. </li></ul><p>The takeaway is clear: the Fed is increasingly split, with the debate shifting toward what comes next—cuts versus staying restrictive longer.</p><p>Yesterday’s dominant story, however, came from JPY price action.</p><p>The Japanese Ministry of Finance conducted a rate check in USDJPY, a classic pre-intervention warning shot. It’s a signal to the market that authorities are watching closely and are prepared to act if needed—without actually deploying reserves. The move marked a shift in how traders must now price in intervention risk, especially with USDJPY pushing toward the 160.00 level, which appears to be a trigger zone.</p><p>The backdrop matters. Yen weakness has become politically sensitive ahead of elections, as it feeds directly into higher import and food prices, particularly with Japan heavily reliant on energy imports. There was also speculation that U.S. officials may be tolerant of yen strength, adding another l
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