USDJPY approaching level 113. What's next?

25 set 2018

From the beginning of September, there is a beautiful uptrend on USDJPY. Will it continue? The market is currently at level 113 and a few pips below important resistance. So, the important question is if there is going to be a breakout or not. There's FOMC soon and if they raise the interest rate from 2% to 2.25%, we will probably see a strong breakout to the upside. If they won't change interest rates there might be a false breakout and then move to the downside. If the breakout will be successful, it might get to 114.73. An important thing to remember is to wait how FOMC will decide and how the market is gonna react.