USD/JPY finally broke through the 78 handle as we wait the Federal Reserve's decision. The possibility of further easing could continue to push prices lower. However, the Bank of Japan will more than likely react in a way to weaken the Yen in the near term. We suspect their actions will be in reaction to the Fed's move.
The GBP/JPY pair fell on Tuesday, but bounced back up in order to form a hammer on a nice rising trend line. The Pound is doing well overall, so this pair should certainly outperform the USD/JPY pair.
Create a FREE account