USD/JPY, consolidation ahead of the FOMC!
For 5 days in a row, USD/JPY is literally on the same level, consolidating and waiting for the Federal Open Market Committee (FOMC) meeting, which is tomorow at March 18., start at 18:00 h (GMT). As you can see in my chart, there is several trendlines which lead the direction of the pair and I don’t expect bigger moves until tomorow, the pair is little bearish today. If FED stay on hold with Interest Rates tomorow (0,25%), Monetary Policy Statement will be the most important for the furder move here. Hawkish statement and economic projestions and rate hikes announcment could push the pair strongly up toward 124.00 and dovish words could retrun the pair down to 120.50–>119.50! I am sure that, tomorow will be a very interesting day!