The entire market is expecting .25 rate cut from the FED, cutting rates is good for us economy long term but will drive the price down on the currency because its a "dovish stance".
If there is a rate cut we can expect to see the JPY to continue its strength across the market.
Our YEN is currently a strong pair due to everyone using it as a safe haven currency.
To turn we would need to break 2 resistance zones which is highly unlikely.
If the fed raises the rates on the US this entire trade will fail.
If the feds keep the rate the same or lower them this trade will be successful.
From a pure techinical aspect the USDJPY is a sell
From a fundamental point of view its also a sell.
The fed news this week WILL decide the "fundamentals economics" of the united states dollar pair. Let us wait and watch.