USDJPY is waiting for FOMC

1 min read

2015-04-29_8-57-18

USDJPY has been put in a heavy range waiting for FOMC. H1 chart shows no obvious movement , but watching H4 we can spot Higher Lows near the support of both intra month and intra week trend lines along with 78.6-88.6 deep retracement. 118.40 (L3) is interim support and as long as it holds USDJPY could bounce to 119.75 region ( H4, 23.6, upper trend line ). Only the break of 118.40 could tank the pair down to 117.90. So there is a possibility that USDJPY will be bought from current levels.

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