December Treasury Bonds were trading firmer on Tuesday even before the FOMC hinted that the Fed was gearing up for another round of quantitative easing.

Early in the trading session T-Bonds pierced a downtrending Gann angle at 131’27, indicating a sign of strength and the potential for a retracement back to 132’12 to 133’04.

An emergency easing by the Bank of Japan may have backfired overnight as the Yen erased its early losses against the major currencies. The BoJ made the move in the hopes it would weaken the Japanese Yen, but instead it’s business as usual this morning with the Yen sharply higher versus the U.S. Dollar.

The EUR USD is trading higher this morning, but still struggling with a Fibonacci retracement level at 1.2345. Regaining this price will be the key to igniting a surge to the upside.