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⋅ Its the FOMC afterall, rate decision could be priced in, only 3 and not 4 times this year, conservative first press conference from Powell
All these could be factors which would cause the FOMC to disappoint, and in this scenario, drive the USD lower
This would make the USDJPY a potential setup as price gets trapped in the 106.50 and 105.50 range
we'll have to wait and see