EvanJones

FED paves question on what nextfor USDJPY

FX:USDJPY   U.S. Dollar/Japanese Yen
48 0 1
Looking at a higher timeframe can often paint a picture regarding what the big money movesare in the FX market.

USDJPY             is in a correction, all be it aslight one on the daily/weekly timeframes. With the FED decision next week, are corporate funds/banks positioning themselves for a bigger move upwards or couldthe FED dissapoint and a drop down to 110.0 or 100.0 be on the cards?

I will play this one carefully,but my thoughts are that the FED if they deliver to ride this long into the 1st/2nd quarter of next year. Alternatively, place pending sell stop orders below the trend line and wait for Dollar/Yen to crash south!!!!
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