USD/CAD rose a bit during the session on Wednesday as the 0.98 handle has been retested as resistance. The level is the bottom of a massive consolidation as well, and as a result as long as we are below it, we are sellers.
The USD/JPY pair tried to rally, but in the end wasn't very impressive. The shooting star formed does bode well for the sellers, but we think this is a short-term move at best. The Bank of Japan will be watching, and more than likely reacting after the Fed announcement today.
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