What levels to eye through the release.
The USDJPY had a 9 pip range at the start of the NY trading day. It is up to 19 pips after moving to a new high and new low in the session so far.
We currently trade in the middle of the trading range.
What levels would give the pair the shove from the non trending activity?
On the topside, the key levels are the 200 day MA at 109.027 and then the quick high from yesterday's trading. A move above each and staying above would be more bullish. Look for upside momentum on the breaks.
On the downside, the low in trading today stalled at the 100 hour MA at 108.79 currently. A break below would look to get below 108.717 and then the 200 hour MA (green line), and 50% retracement of the move up from the October 23rd low at 108.65-67 area. A break below those levels would open the downside for more momentum.
The close levels are set. Will the Fed decision be enough to give a shove?
