USDJPY – Looking to Buy on Pullbacks Into Support (1hr chart)
Also a beneficiary of the FOMC rout of the majors, the USDJPY price action went ballistic jumping ~100 pips within an hour of the announcement. Just like the others, unless we see an about face (which we did after the last FOMC), I’m looking to buy the USDJPY on pullbacks into support.
108.35 seems like a decent place, and I think anywhere between this level and the pseudo pre-breakout structure highs around 108.20 offer a good trade location to get long. Upside targets for me are 109.10 and the big figure at 110.
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