TradeAlerter
Long

Long USD/JPY ahead of FOMC minutes

FX:USDJPY   U.S. Dollar / Japanese Yen
146 1 0
Not exactly a FOMC minutes play but more of a play on the correction of the Nikkei being nearly over and the delayed reaction of the recent rally in the US Treasury Yields coming into play on the USD/JPY             as risk aversion from the recent stock market weakness subsides.

The recent USD/JPY             correlations shows the Nikkei is the Prime mover so tomorrow :-

1) If the FOMC helps US stocks lift then the NIkkei should get boost and USD/JPY             up.

2) If the FOMC Talks up Tapering the first move on the USD/JPY             will be up before Nikkei losses and risk aversion from probable US Stock losses leads to anorther USD/JPY             reversal.

It may be sharp so we may have to close shortly after the FOMC.
USD/JPY Popped higher before falling back on weak US shares i closed small profit because change of trade pathway and outlook
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