USD/JPY BULLISH CONSOLIDATION
Hello all,
USDJPY spot shows consolidation of prices in an ascending formation with top resistance at 113.95.
Traders eyes are on Fed's monetary policy statement to be published today.
I believe we see a strong Long move after the statement today. A strong move is expected due after a long period time of consolidation (about 20 days) in range of 112.70-113.70.
Option implied volatility is also higher, a fact that supports a strong move.
There is a possibility that 113.95 will hold, and then the marker is going to examine 112.70 support again.
Good Luck !
USDJPY spot shows consolidation of prices in an ascending formation with top resistance at 113.95.Traders eyes are on Fed's monetary policy statement to be published today.
I believe we see a strong Long move after the statement today. A strong move is expected due after a long period time of consolidation (about 20 days) in range of 112.70-113.70.
Option implied volatility is also higher, a fact that supports a strong move.
There is a possibility that 113.95 will hold, and then the marker is going to examine 112.70 support again.
Good Luck !
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