It is Fed day. What technical levels are in play in the EURUSD, USDJPY and GBPUSD

Today, the Federal Reserve will announce its interest rate decision at 2:00 PM ET. The market anticipates a 25 basis points rate cut; however, a hawkish posture is expected to remain. This reflects lingering uncertainty in recent employment and inflation data. The Fed's outlook on GDP growth and inflation will also be crucial for traders. In the context of major FX pairs, EURUSD is in focus with key technical levels at play. A strong support level suggests potential upward movement if prices hold. USDJPY may rise if current rate predictions align, reflecting central bank sentiment. GBPUSD is also susceptible to rate changes, with technical levels playing a key role. The Bank of Canada’s decision later today will also impact the markets. Overall, today is significant for data interpretation and market sentiment, especially influencing stock and bond markets.