The head of the BOJ is up next to explain his actions (or lack of them)
USDJPY looks to have found a bottom in the low 113's but don't get too sucked in to that just now.
USDJPY H1 chart
Following the Fed I want to watch the price action through this morning and into the US session just to get an idea of how the dollar is going to play out. There is a potentially low risk trade from the 61.8 fib with a tight stop under 113.00 but I'm not going to be going heavy into any trades until I get a better feel for things. While we've seen a big move already after the Fed, that doesn't mean that's the end of the story and there will be further positioning to come.
Should we break below 113.00 we have the old 112.50 level to consider. At the moment, 113.50 is the main resistance level.
Over to you Mr K.
