the daily chartist

USD/JPY recap for 06.10.2015

published 3 years ago

 The Yen limbo continues. These are my two forecasts as the FED's decision approaches. On the bottom - 119.907 remains strong and on top 121.222 waits any attempts to push higher. Traders in USD/JPY will need to calculate how much they can squeeze the price between these two levels as the October FOMC approaches. Still my view is: Green side: FED says - hike is on! Bulls sweep in, lifting the dollar up to 124.434. Red side: FED says - hike next year! Bears come out of their caves and push the Yen up, destroying dollar's strength to 114.633.