Back into 118.00 and above the overnight high to 118.19. The FOMC was no firework show and we’re still within the closing wedge formation in which breaks lower are being contained by support at 117.20/25
USD/JPY H4 chart 29 01 2015
The topside is joined by the 200 h4 ma around 118.70 and the 55 dma sits just above that at 118.82. So far this week has been a bit pants data wise but tomorrows US GDP data might liven things up a bit and give the doves and hawks something to play with. Until then ,play the field and the given ranges.
