USDJPY KEY LEVELS TO WATCH AHEAD OF THE FED
The US dollar continues to hold near to the best levels of September against the Japanese yen currency, as traders await the rate decision and policy statement from the US Federal Open Market Committee. The USDJPY pair is likely to trade in lockstep with the US 10-year Treasury yield following the FOMC rate decision later today. A move above the 113.17 level is likely to spark an upside breakout, while a move below the 112.20 level may provoke technical selling.
The USDJPY pair is strongly bullish while trading above the 112.70 level, key resistance is found at the 113.17 and 113.80 levels.
If the USDJPY pair moves below the 112.00 level, key support is found at the 111.70 and 111.37 levels.