OANDA:USDJPY   U.S. Dollar / Japanese Yen
Some yen pairs are somewhat risky plays considering within corrective range. It is possible that AJ and UJ made small leading diagonals and are going to go up. Just want to point out that if the dollar finally breaks to upside, UJ is a type of trade that will keep going and going and not look back for the 3rd wave in this huge corrective pattern on weekly breaking the high. However, doesn't mean it will just do it today. But when FOMC impacts, either UJ or AJ may shoot up hard depending on dollar strength or weakness today. If dollar weakened, AJ would be the right trade today. Regardless dollar has been in correction for a while and I feel pretty confident it is to go up for the retracement on the higher time frames. It is setup that it could do it this today or this week, but you have to be careful

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.