Last time we saw an immediate reaction trading into 116. We expect to see more this time since the re-visit has come earlier than expected. Expect to see orders below 116 so a drive lower before going higher could be a potential scenario.
Yellen's comments next week will determine how the USDJPY will react down there. Risk appetite with a focus on China and Crude need to be considered when trading the USDJPY as well.
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