USD/JPY continuing to rise into Fed Meeting
Updated
No resistance in the near term two weeks leading into the Fed Meeting, we should continue to rise into the Gann Fan resistance line as shown. But we are nearing a resistance of a Fibonacci Circle which should provide resistance to drop. Along with the potentially 0% chance of a September rate hike, this could the next drop.
Trade closed: target reached
Target reached and exceeded, the beginnings of Japanese intervention started coming yesterday, which was the drop lower that I was expecting. Expecting more o that along with the force of dovish remarks leading us lower. Not sure if it'll really hit $142, but $147 in the next week or two.
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